رأيك يهمنا.. كيف تقيم الواجهه الجديدة لموقع بنك البلاد
رأيك يهمنا.. كيف تقيم الواجهه الجديدة لموقع بنك البلاد
رأيك يهمنا.. كيف تقيم الواجهه الجديدة لموقع بنك البلاد
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FAQ: RIGHTS ISSUE

 

What is the Rights Issue?
The Rights are tradable securities making their holders eligible to subscribe for the New Shares upon approval of the capital increase. They are acquired rightsfor all Registered Shareholders in the Company’s registers as at the end of the day on which the EGM is held. Each Right grants its holder the eligibility to subscribe for one New Share at the Offer Price.
 
Who is granted Rights?
Rights are granted to all Registered Shareholders of the Company as at the close of trading on the date of the EGM.
 
When are the Rights deposited to the Registered Shareholders’ portfolios?
The Rights will be deposited in the portfolios of Registered Shareholders within two days of the date of the Company’s EGM. The Shares will appear in the portfolios of Registered Shareholders under a new symbol that designates these Rights, which cannot be traded until the beginning of the Trading Period and Subscription.
 
How are Registered Shareholders notified of the deposit of Rights in their portfolio?
Registered Shareholders will be notified that the Rights have been deposited into their portfolio through an announcement on Tadawul website.
How many Rights may be acquired by a Registered Shareholder?
The number of shares acquired by each Registered Shareholder will depend on the Eligibility Factor and the number of shares owned by the Registered Shareholder as at the close of trading on the day of the EGM.
 
What is the Eligibility Factor?
It is a factor that enables the Registered Shareholders of knowing the number of their Rights in return for the shares they own as at the date of the EGM. For example, if the Company has 1,000 issued shares and the Company raises its capital by offering 200 New Shares so that its total number of shares is increased to 1,200 shares, then the Eligibility Factor will be 1 to 5 (one share per five shares)
 
Are these Rights tradable? Will they be added to the Shareholders’ portfolios under the same name/symbol as the Company’s shares, or will they be assigned a new name?
The Rights will be deposited in the portfolios of the Registered Shareholders under a new symbol specially assigned to the Rights.
 
Is it possible for a subscriber to sell all or part of the Rights it holds?
A holder of the Rights may sell all or a part of these Rights on Tadawul during the Trading Period. If a holder of the Rights sells a part of its allocation of Rights, the holder may still subscribe for New Shares using the remaining portion during the First Subscription Period or the Second Subscription Period.
 
What is the value of the Rights upon commencement of trading?
The opening price of the Right is the difference between the Company’s closing share price on the day preceding the Right listing and the Offer Price. For example, if the closing price of a Share on the preceding day is SAR 35 and the Offer Price is SAR 10, the opening price of the Rights will be 35 minus 10, i.e., SAR 25.
 
May Registered Shareholders subscribe for additional shares?
Registered Shareholders may subscribe for additional shares by purchasing New Shares during the Trading Period, and they may subscribe for additional New Shares by purchasing New Shares during the Second Subscription Period only.
 
How is subscription done?
Subscription, as per current practices, is accomplished by submission of Subscription Application Forms at any branch of a Receiving Agent (mentioned in this Prospectus) during the two Subscription Periods only.