“Sadaq” distributes 8.9 million riyals in compensation to those entitled to priority rights
The Saudi Industrial Development Company (Sadq) announced today the distribution of compensation amounts to priority rights holders who did not exercise their right to subscribe to new shares.
The company said in a statement on its website "Saudi Arabia trading"The total amount that will be distributed to the eligible persons who did not exercise their right to subscribe and those entitled to fractional shares is about 8.9 million riyals.
It stated that the compensation will be delivered to the eligible persons who did not exercise their right to subscribe and those entitled to fractional shares, by depositing the amounts in the bank accounts of the eligible persons who did not exercise their right to subscribe to new shares and those entitled to fractional shares who have all the banking requirements for depositing through a bank. Riyadh.
It noted that the company has (75,044) share certificates that were not registered as shares in investment portfolios with brokers and the Securities Depository Center Company before the trading and subscription period, and therefore the company was unable to transfer the compensation amount and fractions of shares to the holders of those certificates.
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