BRIEF-Takween Board Recommends Share Capital Reduction Followed By Rights Issue Offering

TAKWEEN
Tadawul All Shares Index

TAKWEEN

1201.SA

0.00

Tadawul All Shares Index

TASI.SA

0.00

June 24 (Reuters) - TAKWEEN ADVANCED INDUSTRIES 1201.SE:

  • BOARD RECOMMENDS SHARE CAPITAL REDUCTION FOLLOWED BY RIGHTS ISSUE OFFERING

  • CAPITAL REDUCTION AIMS TO RESTRUCTURE CAPITAL BY OFFSETTING ACCUMULATED LOSSES OF SAR 519.4 MILLION

  • TOTAL OF 51.9 MILLION SHARES OF CO WILL BE CANCELLED

  • TO INCREASE SHARE CAPITAL THROUGH A RIGHTS ISSUE OFFERING WITH A TOTAL VALUE OF SAR 400 MILLION

  • CAPITAL INCREASE AIMS TO STRENGTHEN THE COMPANY’S FINANCIAL POSITION, SUPPORT LIQUIDITY

Source text: ID:nSSE59F1Fy

Further company coverage: 1201.SE


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.