Shareholders of SABB Takaful voted on Aug. 8 to increase the company's capital by issuing rights issue shares with a total value of SR300 million. At the extraordinary general meeting of the company in Riyadh presided by Dr. Yazid Abdulrahman Al-Ohaly, chairman of SABB Takaful, representatives of the Ministry of Commerce and Industry and the Capital Market Authority were also there. Dr. Al Ohaly, said: “We are very pleased that our shareholders have approved the rights issue which can now proceed in accordance with CMA regulations”. The subscription period for the rights issue will begin on Aug. 15, 2009 and end on Aug. 26, 2009. The rights issue offering is being made to SABB Takaful shareholders registered with Tadawul at the close of trading on Aug. 8, 2009. The rights issue price is SR12.50 per share, and the number of rights issue shares is 24 million shares. Shares not subscribed for, if any, will be available for eligible shareholders who subscribe for their rights in full. The prices of the additional shares subscribed for is SR12.50, SR 19, SR 26, and SR 33. The prospectus for the rights issue is available on the websites of the Capital Market Authority (www.cma.org.sa), SABB Takaful (www.sabbtakaful.com) and Aldukheil Financial Group (www.aldukheil.com.sa), financial advisor and lead manager.
