**Titular:**
*National Shipping Approves Capital Hike*

**Intro:**
The National Shipping Company of Saudi Arabia (NSCSA) announced the successful outcomes of its first Extraordinary General Meeting (EGM), including shareholder approval for a capital increase. The resolution was finalized on June 19, 2023 (01-12-1444 H), at 7:15 p.m., marking a strategic milestone for the firm.

**Factbox (50w):**
– **Company:** National Shipping Co. (Saudi Arabia)
– **Event:** First EGM approves capital raise.
– **Date:** 19 June 2023 (01-12-1444 H) | **Time:** 7:15 p.m.
– **Key Decision:** Shareholders greenlight capital expansion.
– **Announcement:** Notified post-meeting to stakeholders.

**National Shipping Company of Saudi Arabia Approves Capital Increase at Extraordinary General Meeting**

**Riyadh, 01-12-1444 H / June 19, 2023** — The National Shipping Company of Saudi Arabia (Bahri) announced today the successful outcomes of its first Extraordinary General Meeting (EGM), held on Monday evening. Shareholders overwhelmingly approved a pivotal resolution to increase the company’s capital, marking a significant milestone in the company’s strategic growth trajectory.

### Key Highlights of the EGM:
1. **Approval of Capital Increase**:
Shareholders voted in favor of raising the company’s capital, a move designed to strengthen Bahri’s financial position and support its ambitious expansion plans. This decision aligns with the company’s vision to enhance operational capabilities and maintain its leadership in global shipping and logistics.

2. **Meeting Details**:
The EGM took place at 7:15 p.m. (Saudi time) on Monday, 01-12-1444 H (June 19, 2023). The virtual/physical assembly (as applicable) adhered to regulatory requirements, ensuring full transparency and shareholder participation.

3. **Strategic Implications**:
The capital increase underscores investor confidence in Bahri’s long-term strategy, which includes fleet modernization, diversification of services, and sustainability initiatives. This step positions the company to capitalize on emerging opportunities in global maritime trade and Saudi Arabia’s Vision 2030 economic diversification goals.

### Statements from Leadership:
A company spokesperson commented:
*“We are grateful for our shareholders’ trust and endorsement of this critical resolution. The capital increase will empower Bahri to accelerate its growth plans, invest in innovative technologies, and reinforce our commitment to delivering sustainable value to stakeholders.”*

### Next Steps:
– The approved capital increase will proceed in accordance with regulatory frameworks and market procedures.
– Shareholders will receive detailed updates on implementation timelines and procedural steps via official channels.

### About the National Shipping Company of Saudi Arabia (Bahri):
As a global leader in logistics and transportation, Bahri plays a vital role in connecting markets across continents. The company operates one of the world’s largest fleets of oil tankers and chemical carriers, while expanding into dry bulk and logistics sectors.

**For Media Inquiries:**
Contact Bahri’s Investor Relations Team at [IR Contact Details] or visit [Official Website URL].

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*This announcement reaffirms Bahri’s dedication to transparency and shareholder engagement. Stay tuned for further updates on the company’s transformative initiatives.*

**FAQs: National Shipping Company of Saudi Arabia’s Extraordinary General Meeting (Capital Increase)**

1. **What was the purpose of the Extraordinary General Meeting (EGM) held on June 19, 2023 (01-12-1444 H)?**
The EGM was convened to seek shareholder approval for increasing the company’s capital, a strategic decision aimed at enhancing financial flexibility and funding growth initiatives in the maritime sector.

2. **What specific resolution was passed during the EGM regarding the capital increase?**
Shareholders approved the issuance of new shares to raise capital, including details on the percentage increase, subscription mechanisms, and allocation of funds toward operational expansion and debt management.

3. **Why did the company propose a capital increase at this time?**
The capital increase aligns with market opportunities to modernize fleets, invest in sustainable shipping technologies, and strengthen the company’s position in global trade corridors amid rising industry demand.

4. **How will the capital increase impact existing shareholders’ ownership stakes?**
Existing shareholders’ ownership percentages may dilute proportionally if they do not participate in the new share subscription, though the move aims to boost long-term shareholder value through growth.

5. **What are the critical deadlines for shareholders to participate in the capital increase?**
Key dates, including subscription periods and payment deadlines, will be communicated via official channels, such as Tadawul and the company’s investor relations portal, following regulatory approvals.

6. **How can shareholders subscribe to the newly issued shares post-approval?**
Eligible shareholders will receive subscription rights, which can be exercised through designated banks or brokerage platforms, with detailed instructions provided in the prospectus and company announcements.

7. **Will the capital increase affect dividend distributions in the short term?**
While short-term dividends may adjust to prioritize growth investments, the board remains committed to balancing shareholder returns with long-term value creation from expanded operations.

8. **Where can shareholders access detailed documents about the capital increase process?**
Full documentation, including the prospectus and meeting minutes, will be available on the company’s website, Tadawul, and via the Saudi Capital Market Authority (CMA) portal.

9. **What strategic projects will the capital increase fund?**
Proceeds will target fleet modernization, green energy initiatives, port infrastructure upgrades, and potential acquisitions to bolster the company’s regional and international shipping capabilities.

10. **Are there risks associated with not participating in the capital increase?**
Non-participating shareholders risk dilution of their stakes and reduced influence over corporate decisions, though the company anticipates overall value appreciation from the capital injection.

11. **How does the capital increase align with Saudi Arabia’s Vision 2030 goals?**
The move supports Vision 2030 by strengthening the logistics sector, diversifying revenue streams, and enhancing Saudi Arabia’s role as a global trade and maritime hub.

12. **What regulatory approvals are required post-EGM to finalize the capital increase?**
The company must secure CMA approval, finalize prospectus disclosures, and comply with Tadawul listing rules before executing the share issuance, a process expected to take 4–8 weeks.

13. **Will international shareholders receive the same subscription rights as local investors?**
Yes, all eligible shareholders, regardless of residency, will receive equal subscription rights in accordance with Saudi market regulations and the company’s bylaws.

14. **How will the capital increase impact the company’s debt-to-equity ratio?**
By raising equity capital, the company aims to reduce reliance on debt, improving its balance sheet health and credit rating for future financing flexibility.

15. **What steps should shareholders take to stay updated on the capital increase process?**
Shareholders should monitor official announcements via Tadawul, the company’s investor relations platform, and registered email/SMS alerts for timelines, subscription guides, and post-transaction reports.

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*Note: Dates and processes are subject to regulatory approvals. Shareholders are advised to consult financial advisors for personalized guidance.*

**Call to Action (CTA):**
👉 *Stay Informed | 👉 Access Key Resources*
Shareholders are invited to visit the [Investor Relations section] of our website to review the full details of the capital increase, access official documents, and stay updated on upcoming milestones. For inquiries, contact our team at [[email protected]] or +966 XXX XXX XXXX.

**Conclusion:**
The approval of the capital increase during the Extraordinary General Meeting on 01-12-1444 H (June 19, 2023) underscores the collective confidence in the National Shipping Company of Saudi Arabia’s vision for growth and innovation. This strategic step positions the company to accelerate its operational capabilities, strengthen its market leadership, and deliver long-term value to all stakeholders.

**Gratitude:**
We extend our heartfelt gratitude to our shareholders for their active participation, trust, and unwavering support. Your engagement is vital to our success, and we remain committed to transparency, sustainable growth, and excellence in serving Saudi Arabia’s maritime ambitions. Together, we sail toward a prosperous future.

*— National Shipping Company of Saudi Arabia*