Watani Iron Steel Company announces the latest developments for Watani Iron Steel Company announces the approval of its Board of Directors to move to the main market and appoint a financial advisor.

Watani Iron Steel Company announces the latest developments for Watani Iron Steel Company announces the approval of its Board of Directors to move to the main market and appoint a financial advisor.

27 February 2024 04:21 PM

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Explanation

Introduction

With reference to the announcement of the Watani Iron Steel Company published on the website of the Financial Market (Saudi Tadawul) on 02/14/1445 AH corresponding to 08/30/2023 AD regarding the approval of the Board of Directors of the Watani Iron Steel Company to move to the main market, and to appoint it as a financial advisor. The company would like to announce to the shareholders the change of the previously appointed financial advisor and the appointment of a new financial advisor, which is Yaqeen Financial Company (Yaqeen Capital), for the purpose of the transition, based on the requirements of the updated and amended listing rules pursuant to the Capital Market Authority’s Board Resolution No. (1-108-2022) dated 03/23/1444 AH corresponding to 10/19/2022 AD. Note that the move to the main market is subject to the approval of the Saudi Stock Exchange and is conditional on fulfilling all requirements stipulated in the listing rules. Any developments related to this matter will be announced later.

Previous Announcement

Watani Iron Steel Company announces the approval of its Board of Directors to move to the