Saudi Advanced Industries Company announces the recommendation of its Board of Directors to distribute part of its stake in Obeikan Glass Company to shareholders.
- Date : 2024-03-17
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Advanced Industries Company (SAIC) announces the recommendation of the Board of Directors on 06/09/1445H corresponding to 16/03/2024 AD to the General Assembly to distribute part of its share in Obeikan Glass Company, which is equivalent to (300,000) shares, to the shareholders of the Saudi Advanced Industries Company, and aims Distributing a portion of the shares owned in Obeikan Glass Company to maximize the investment value for shareholders of the Saudi Advanced Industries Company. This distribution will contribute to Obeikan Glass Company fulfilling one of the conditions for moving from the parallel market (Nomu) to the main market (TASI), which is the liquidity condition.
The entitlement and distribution date and any fundamental developments will be announced later, after the approval of the relevant competent authorities and the General Assembly. |