Logo ofAllied Cooperative Insurance Group (ACIG)
Shareholders of Allied Cooperative Insurance Group (ACIG) rejected the board’s recommendation on increasing capital via a rights issue worth SAR 209 million, during the extraordinary general meeting (EGM), held on June 22, according to a statement to Tadawul. 
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Details
Current Capital
SAR 291 mln
No. of Shares
29.1 mln
Post-Increase Capital
SAR 500 mln
No. of Shares
50 mln
Increase Percentage
71.82%
Purpose of Increase
To support the company’s future plans, enhance solvency margin, and boost investment income
Method of Increase
Issuance of 20.9 million ordinary shares through a rights issue, at 0.7182-for-1, with a nominal value of SAR 10 each and an offering price of SAR 10 each
Record Date
Shareholders of record on the EGM date who are registered with Edaa at the end of the second trading day following the EGM date
Logo ofAllied Cooperative Insurance Group (ACIG)
Shareholders of Allied Cooperative Insurance Group (ACIG) rejected the board’s recommendation on increasing capital via a rights issue worth SAR 209 million, during the extraordinary general meeting (EGM), held on June 22, according to a statement to Tadawul.
For more news on listed companies
Details
Current Capital
SAR 291 mln
No. of Shares
29.1 mln
Post-Increase Capital
SAR 500 mln
No. of Shares
50 mln
Increase Percentage
71.82%
Purpose of Increase
To support the company’s future plans, enhance solvency margin, and boost investment income
Method of Increase
Issuance of 20.9 million ordinary shares through a rights issue, at 0.7182-for-1, with a nominal value of SAR 10 each and an offering price of SAR 10 each
Record Date
Shareholders of record on the EGM date who are registered with Edaa at the end of the second trading day following the EGM date
