Middle East Specialized Cables Company ("MESC") submitted a request to the CMA to approve its SAR 200,000,000 capital increase by way of rights issue. The price and number of the new shares to be offered will be determined by the Company's shareholders after the close of trading on the day of the Company's extraordinary general assembly meeting, which is be determined by the Company’s board of directors at a later date.

After reviewing the Company’s application in light of the governing regulatory requirements, and the quantitative and qualitative criteria applicable to all companies requesting a capital increase, the CMA's Board of Commissioners has issued its resolution approving MESC's capital increase request, which is to be conducted in accordance with the tradable rights framework. The rights issue prospectus will be posted and made available to the public at a later time.

An explanation of the tradable rights framework will be included in the prospectus. Additionally, an electronic brochure describing the framework will be made available on Tadawul's website in sufficient time prior to the commencement of the subscription period.