A1214 SHAKER0.12 (0.54 %)
1443/04/05 Wed Nov 10, 2021 15:35:19
Al Hassan Ghazi Ibrahim Shaker Co. Announces an update to the Recommendation of Its Board Of Directors Recommendation To Reduce The Company's Capital And A Subsequent Capital Increase Through The Issuance Of Rights Issue Shares

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Introduction With reference to the announcement of Al-Hassan Ghazi Ibrahim Shaker Company on 12/02/1443 corresponding to 09/19/2021, regarding the Board of Directors' recommendation to reduce the company's capital and then increase the company's capital through rights issues, and given the improvements in the company's operations and its ability to reduce its accumulated losses from around 25.3% to around 23.4 %, the company's board of directors decided by circulation today 05/04/1443 (corresponding to 10/11/2021 ) to amend the previous recommendation to reduce the Company's capital and subsequently increasing the Company's capital through rights issue to be as follows:

Recommending to the Extraordinary General Assembly to reduce the company's capital from (630,000,000) Saudi riyals to (482,334,000) Saudi riyals, by canceling (14,766,600) ordinary shares from The issued shares of the company (with a nominal value of ten (10) Saudi riyals per share), i.e. a cancellation rate of 2.34 for every 10 shares of the company's shares.

The effect of the capital reduction on the company's obligations: There is no effect from the reduction of the company's capital on its financial obligations, operations, or financial, operational or organizational performance.

Date of reduction: The end of the second trading day after the extra ordinary general assembly meeting in which decrease was resolved.

Previous Announcement Al Hassan Ghazi Ibrahim Shaker Company Announces Its Board Of Directors Recommendation To Reduce The Company's Capital And A Subsequent Capital Increase Through The Issuance Of Rights Issue Shares
Date of Previous Announcement on Tadawul's Website 2021-09-19 Corresponding to 1443-02-12
Percentage of fulfilled achievement N/A
Event's Expected Completion Date N/A
Reasons for Exceeding the Announced End Date N/A
The costs associated with the event, and if they have changed or not with indication of the reasons. N/A
Impact of the Delay on the Company's Financial Results N/A
Additional Information • The capital reduction is subject to the approval of the related official authorities and the Extraordinary General Assembly.

• There is no change in the appointment of the financial advisor, as AlJazira Capital was appointed as a financial advisor regarding capital reduction and capital increase in the previous meeting of the Board of Directors on 12/02/1443 corresponding to 09/19/2021 , and it will also be announced at the time when Submit a file of a request to reduce and increase the company's capital to the Capital Market Authority for approval.

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.

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Al Hassan Ghazi Ibrahim Shaker Company SJSC published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 19:18:22 UTC.