Takween Advanced Industries announces the last day of the second subscription period of the rights issue
Takween Advanced Industries announces the results of the two subscription periods and the details for selling the unsubscribed shares as follows:
1. During the first subscription period, which started on Tuesday 26/12/1437H (corresponding to 27/09/2016G) and ended on Thursday 05/01/1438H (corresponding to 06/10/2016G), the number of subscribed shares amounted to 33,435,051 shares for a total value of SAR 334,350,510 representing 55.73% of the total new offered shares.
2. During the second subscription period, which started on Sunday 08/01/1438H (corresponding to 09/10/2016G) and ended on Tuesday 10/01/1438H (corresponding to 11/10/2016G), the number of subscribed shares amounted to 14,801,521 shares for a total value of 148,015,210 representing 24.67% of the total new offered shares.
3. The total number of subscribed shares during the first and second subscription periods is 48,236,572 shares from the new offered shares for a value of SAR 482,365,720 with a coverage percentage of 80.39% from the new offered Shares
4. The details for selling the share fractions and the unsubscribed shares:
The Company announces that the period for rump offering will start at 10:00 AM on Sunday 15/01/1438H (corresponding to 16/10/2016G) and will end at 10:00 AM on the following day, Monday 16/01/1437H (corresponding to 17/10/2016G). During this period, the rump shares will be offered to institutional investors which will submit offers to purchase the rump shares. The rump shares will be allocated to institutional investors with the highest offer, then to the next one (provided that it is not below the offering price). The allocation of the rump shares to institutional investors submitting the same offer will be on a pro rata basis. Fractional shares shall be added to the rump shares and be treated in the same manner.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.