‎SVCP shareholders to vote on SAR 80M rights issue on June 14

Saudi Vitrified Clay Pipes Co.’s (SVCP) shareholders will vote on a capital increase of SAR 80 million through a rights issue offering 8 million shares, in line with the proposed capital increase, during the extraordinary general meeting (EGM) scheduled for June 14, 2026, the company said in a statement to Tadawul.

The increase aims to address accumulated losses, which have reached 50% of the company’s capital, and to support the company’s continuation in accordance with Article 132 of the Companies Law.

Advertisement

Capital Increase Details

Current Capital

SAR 150 mln

Number of Shares

15 mln

New Capital

SAR 230 mln

New Number of Shares

23 mln

Percentage of Increase

53.33%

Nominal value

SAR 10

Method

Rights issue of 8 million ordinary shares at SAR 10 per share, for a total of SAR 80 million.

Reason

To address accumulated losses and support the company’s growth strategy through product diversification, including expansion into cement products via the Saudi Land Factory Co.’s facility and the high-density plastic products factory.

The production lines for the plastic products plant are currently being installed, in addition to supporting operational activities and strengthening the company’s financial position.

Record Date

June 14, 2026 (shareholders registered with Edaa bythe end of thesecond trading day following the EGM)

According to data available with Argaam, the Capital Market Authority (CMA) approved in April 2026 SVCP’s request to increase its capital through a SAR 80 million rights issue.

Accumulated losses stood at SAR 85.3 million at the end of Q1 2026, representing 57% of the company’s capital.

Saudi Vitrified Clay Pipes Co.’s (SVCP) shareholders will vote on a capital increase of SAR 80 million through a rights issue offering 8 million shares, in line with the proposed capital increase, during the extraordinary general meeting (EGM) scheduled for June 14, 2026, the company said in a statement to Tadawul.

The increase aims to address accumulated losses, which have reached 50% of the company’s capital, and to support the company’s continuation in accordance with Article 132 of the Companies Law.

Capital Increase Details

Current Capital

SAR 150 mln

Number of Shares

15 mln

New Capital

SAR 230 mln

New Number of Shares

23 mln

Percentage of Increase

53.33%

Nominal value

SAR 10

Method

Rights issue of 8 million ordinary shares at SAR 10 per share, for a total of SAR 80 million.

Reason

To address accumulated losses and support the company’s growth strategy through product diversification, including expansion into cement products via the Saudi Land Factory Co.’s facility and the high-density plastic products factory.

The production lines for the plastic products plant are currently being installed, in addition to supporting operational activities and strengthening the company’s financial position.

Record Date

June 14, 2026 (shareholders registered with Edaa bythe end of thesecond trading day following the EGM)

According to data available with Argaam, the Capital Market Authority (CMA) approved in April 2026 SVCP’s request to increase its capital through a SAR 80 million rights issue.

Accumulated losses stood at SAR 85.3 million at the end of Q1 2026, representing 57% of the company’s capital.