Saudi Fransi Capital, the lead manager of Mobile Telecommunications Company Saudi Arabia's (Zain KSA) planned capital restructuring provided a progress update to the market. Following receipt of the required approvals from the Capital Market Authority (CMA) and Ministry of Commerce and Industry, the date for the extraordinary general meeting for the shareholders of Zain KSA to approve a proposed capital reduction and capital increase by way of the rights issue (capital restructuring), has been confirmed on June 25. Saudi Fransi Capital and Al Rajhi Capital are financial advisers to the capital restructuring process. Zain KSA's shareholders are able to vote electronically in respect of the resolutions being proposed at the EGM through Tadawul using the Tadawulaty facility. The facility, which is open until June 25 is available for all shareholders owning 20 or more shares in Zain KSA. Eligible shareholders should visit the website to register and vote http://tadawulaty.tadawul.com.sa The electronic votes submitted before the above deadline by shareholders registered in the company's books at the close of trading on June 25will be valid and counted along with physical votes made at the EGM. The banks receiving applications for new shares in Zain KSA and are now making preparations for the rights issue are: Banque Saudi Fransi, Riyad Bank, NCB, Bank Al Jazira, Bank Al Bilad, ANB, Al Rajhi Bank, SAMBA, Saudi Investment Bank, Saudi Holland Bank, SABB and Al Inma Bank.
