Announcement from the Saudi Stock Exchange Company (Tadawul) Regarding the General Meeting to be held in Ramadan that includes in its agenda an item related to the increase of the capital of the company.
Tuesday, May 22, 2018 at 3:11 PM
Tue May 22, 2018 15:11
In reference to the announcements of several listed companies on holding their extraordinary general meetings (EGM) at a late hour during the holy month of Ramadan, with an agenda that contains a capital increase. The Saudi Stock Exchange “Exchange” would like to emphasize that in the event that the EGM has convened, and the details of the capital increase are communicated to the Exchange at a late hour. The Exchange would then have to suspend trading of the company shares for the next trading session following the EGM. This is in order for the Exchange to reflect the capital increase. Trading of the shares will resume in the next trading session following the suspension.
The Exchange also urges companies to consider holding EGMs with an agenda that includes an increase in the company's capital at an early time, so that the Exchange can reflect the capital increase, without having to suspend the trading of company's shares.