Middle East Paper Co. announces the results of the subscription to the new shares by capital increase with suspension of Rights Issue Shares

Middle East Paper Co. announces the results of the subscription to the new shares by capital increase with suspension of Rights Issue Shares

Element List

Explanation

Introduction

With reference to the approval of the Capital Market Authority to increase the capital of Middle East Paper Company (the "Company") by an amount of 199,999,990 Saudi riyals on 20/05/1445H (corresponding to 04/12/2023G) through share issuance with suspension of preemptive rights of the existing shareholders, and the Company’s announcement on the Tadawul website on 18/06/1445H, (corresponding to 31/12/2023G) announcing the determination of the period of subscription to the new shares to increase capital with suspension of preemptive rights. The Company would like to announce the results of the subscription to the new shares by capital increase with suspension of preemptive rights.

The number of the shares subscribed

19,999,999

The value of the shares subscribed

629,999,968

The coverage percentage of the total new shares offered(%)

100 %

The total proceeds arising from the subscription

629,999,968

the details if all new shares are not subscribed on the specified expiration date of the offering

not applicable

Price of offering

31.5 %

Date of depositing new shares into the accounts of subscribers

2024-01-04 Corresponding to 1445-06-22