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Announcement Detail	ASG Plastic Factory Co. announces that its Board of Directors, in its meeting dated 12-10-1447 AH corresponding to 31-03-2026, has approved increasing the capital of its wholly-owned subsidiary, ASK Pipes Company (100% owned), from 250,000 SAR to 15,000,000 SAR. The increase will be achieved by capitalizing the balance owed to a related party, the parent company ASG Plastic Factory Co. by the subsidiary ASK Pipes Company, amounting to 14,645,394 SAR as of December 31, 2025, and by capitalizing 104,606 SAR from retained earnings, bringing the total capitalized amount to 14,750,000 SAR. This step aims to strengthen the financial position of the subsidiary and enable it to achieve its operational and strategic plans more efficiently in the future.

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Explanation

Announcement Detail

ASG Plastic Factory Co. announces that its Board of Directors, in its meeting dated 12-10-1447 AH corresponding to 31-03-2026, has approved increasing the capital of its wholly-owned subsidiary, ASK Pipes Company (100% owned), from 250,000 SAR to 15,000,000 SAR. The increase will be achieved by capitalizing the balance owed to a related party, the parent company ASG Plastic Factory Co. by the subsidiary ASK Pipes Company, amounting to 14,645,394 SAR as of December 31, 2025, and by capitalizing 104,606 SAR from retained earnings, bringing the total capitalized amount to 14,750,000 SAR.

This step aims to strengthen the financial position of the subsidiary and enable it to achieve its operational and strategic plans more efficiently in the future.

ASG Plastic Factory Co.that its Board of Directors has approved increasing the capital of its subsidiary, ASK Pipes Company, by converting the balance owed to a related party (the owner) and capitalizing a portion of retained earnings.