“Gulf Training” shareholders discuss a capital increase of 200 million riyals, November 3

Company Board of Directors called Al Khaleej Training and Education “Al Khaleej Training” Shareholders are invited to attend the Extraordinary General Assembly meeting on November 3, 2021, to vote on the Board of Directors’ recommendation to increase the company’s capital through a rights issue of 200 million riyals.

The company said in a statement on “Saudi Tadawul”, today, Monday, that it aims to increase the capital by offering priority rights shares to acquire assets in the field of education.

It added that this will be done by offering and listing rights shares of 20 million ordinary shares.

The eligibility will be for the shareholders who own shares on the day of the extraordinary general assembly who are registered in the company’s shareholders register with the Securities Depository Center Company “The Depository Center” at the end of the second trading day following the date of the extraordinary general assembly.

The assembly votes on amending Article VII of the company’s articles of association related to capital, and amending Article VIII of the company’s Articles of Association related to subscribing to shares.

It is noteworthy that the company’s current capital is 450 million riyals, and becomes 650 million riyals after the increase.

In a separate statement, Al Khaleej Training and Education Company announced today, Monday, the availability of a rights issue prospectus on the Capital Market Authority’s website and Al Khaleej Company’s website within the investor relations section, where the company wishes to make all information related to the offering available to shareholders and the public before the Extraordinary General Assembly is held.

The company had obtained the approval of the Capital Market Authority to request an increase in the company’s capital by way of a rights issue.

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