| Element List | Explanation |
|---|---|
| Introduction | Referring to the letter of the Insurance Authority No. (01826-25/418) dated 15/7/2025, which included the obligation to submit a corrective plan to the authority to comply with the minimum paid-up capital within (10) working days from the date of the letter. Allied Cooperative Insurance Group announces the recommendation of the Board of Directors to increase the company's capital by Offering Shares with Suspension of Rights Issue Shares. |
| Date of Board Meeting | 2025-07-27 Corresponding to 1447-02-02 |
| Target Amount | 9,000,000 Saudi Riyal |
| Reasons for the increase | The commitment to the minimum paid-up capital for insurance companies, which is 300,000,000 Saudi Riyals. |
| Eligibility date | The offering shall be limited to investors in the category of eligible customers and institutional customers, provided that the date of voting eligibility shall be the day of the extraordinary general assembly which decides to increase the capital by offering shares with suspension of Rights Issue Shares, and those whose names are listed in the issuer’s shareholders register at the depository center at the end of the second trading day following the Assembly date |
| Approvals | Subject to the approval of the Insurance Authority, the Capital Market Authority, and other relevant regulatory bodies, in addition to the approval of the company's extraordinary general assembly. |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | An announcement will be made later regarding the appointment of a financial advisor for the offering, as well as when the application file for the capital increase is submitted to the authority and in the event of any future developments in this regard. |
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