Takween Advanced Industries announces the results of the rump offering and the allotment of the rights issue shares
In addition, the Company announces the results of rump offering. During this period, 11,763,428 shares were offered to institutional investors. The results were as follows: Number of shares sold: 11,763,428 shares (including the remaining shares and fractional shares); The aggregated proceeds of the rump shares and fractional shares amounted to: SAR 117,634,280; The average subscription price per share (for the rump shares) is: SAR 10; Due to the coverage of the rump offering at the offer price of SAR10, no compensation will be distributed to the holders of rights who have not subscribed nor to fractional shares holders. As a result, the total proceeds of the rump offering will be paid to the Company without any compensation distribution. The newly issued shares will be deposited into the shareholders portfolios on Sunday 22/01/1438H (corresponding to 23/10/2016G).
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.