| Element List | Explanation |
|---|---|
| Introduction | Development Works Food Co. announces the board of directors' recommendation to increase the company's capital Through a rights issue |
| Date of Board Meeting | 2024-01-02 Corresponding to 1445-06-20 |
| Target Amount | 90,000,000 Saudi riyals |
| Reasons for the increase | The company's desire to diversify and expand its activities and other activities and to make optimal use of the spread of its brands to cover all regions of the Kingdom and to achieve the company's future goals in line with its aspirations. |
| Eligibility date | The eligibility shall be for shareholders who own shares on the day of the extraordinary general assembly that decided to increase the capital by offering priority rights shares and whose names appear in the register of shareholders of the issuer at the depository center at the end of the second trading day following the date of the assembly. |
| Approvals | The approvals of the relevant official authorities and the extraordinary general assembly |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | An announcement will be made later when a financial advisor is appointed for the offering, as well as when the capital increase application file is submitted to the Capital Market Authority |
The Capital Market Authority and Saudi 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.