Saudi Arabian Amiantit Co. Announces updates on Increase of the Company’s Capital by Offering Right Issues File at CMA

Saudi Arabian Amiantit Co. Announces updates on Increase of the Company’s Capital by Offering Right Issues File at CMA

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|Introduction||With reference to the Saudi Arabian Amiantit Co. (the Company) announcement on the Saudi Exchange on 10/08/1443H corresponding to 13/03/2022G in relation to the submission of the application for the increase of the Company’s capital by way of a rights issue to the Capital Market Authority (the CMA) based on the Company’s board recommendation on 26/06/1443H corresponding to 29/01/2022G to increase the Company’s capital by way of a rights issue for a total amount of three hundred forty-six million five hundred thousand Saudi Riyals (SAR 346,500,000), the Company would like to announce to its shareholders the issuance of the CMA’s resolution on 07-05-1444H corresponding to 01-12-2022G including the approval of the Company’s application to increase its capital by way of a rights issue by increasing the company's capital from SAR (99,000,000) to SAR (445,500,000), an increase of SAR (346,500,000) thus increasing the number of shares from (9,900,000) shares to (44,550,000) shares, an increase of (34,650,000) shares at average of (3.5) shares per (1) share, It should be noted that this approval is subject to the Company’s extraordinary general assembly’s approval and the completion of all relevant regulatory requirements and procedures.|

|Date of Announcing the Application on Tadawul Website||2022-03-13 Corresponding to