The Securities Depository Center Co. (Edaa) announced implementing securities quantity decrease for Methanol Chemicals Co. (Chemanol) on the center’s accounts of eligible securities’ holders today, July 1.
On June 28, Chemanol’s shareholders approved a 44% capital cut to SAR 674.51 million from SAR 1.21 billion to restructure the company’s capital and offset accumulated losses, Argaam reported.
Shareholders refused approval for capital increase through a rights issue of SAR 480 million.
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