Thimar said the capital increase aims to support its financial restructuring plan
Thimar Development Holding Co. said its board recommended on July 7 increasing the company’s capital by SAR 130 million through a rights issue. 
In a statement to Tadawul, the company said the capital increase aims to support its financial restructuring plan, strengthen liquidity, ensure business continuity, fulfill its obligations, and enable it to pursue investment opportunities that generate attractive returns and foster future growth.
The rights issue will be available to shareholders who own shares on the date of the extraordinary general meeting (EGM) approving the capital increase and whose names are registered in the issuer’s shareholder register with the Securities Depository Center (Edaa) by the end of the second trading day following the EGM.
The board’s recommendation remains subject to approval by the relevant regulatory authorities and shareholders.
Thimar said it will announce the appointment of the financial adviser for the rights issue and the submission of the capital increase application to the Capital Market Authority (CMA) at a later date.
According to Argaam data, Thimar’s shareholders rejected in January the board’s recommendation to increase capital by SAR 195 million through a rights issue.
Thimar said the capital increase aims to support its financial restructuring plan
Thimar Development Holding Co. said its board recommended on July 7 increasing the company’s capital by SAR 130 million through a rights issue.
In a statement to Tadawul, the company said the capital increase aims to support its financial restructuring plan, strengthen liquidity, ensure business continuity, fulfill its obligations, and enable it to pursue investment opportunities that generate attractive returns and foster future growth.
The rights issue will be available to shareholders who own shares on the date of the extraordinary general meeting (EGM) approving the capital increase and whose names are registered in the issuer’s shareholder register with the Securities Depository Center (Edaa) by the end of the second trading day following the EGM.
The board’s recommendation remains subject to approval by the relevant regulatory authorities and shareholders.
Thimar said it will announce the appointment of the financial adviser for the rights issue and the submission of the capital increase application to the Capital Market Authority (CMA) at a later date.
According to Argaam data, Thimar’s shareholders rejected in January the board’s recommendation to increase capital by SAR 195 million through a rights issue.
