Amana Insurance shareholders to vote on capital cut on May 23

20/04/2021 Argaam

Amana Cooperative Insurance Co.’s shareholders are set to vote on a 45.83% capital cut to SAR 130 million from SAR 240 million during the extraordinary general assembly meeting to be held on May 23, the company said in a statement on Tadawul.

 

The capital cut will be through writing off 11 million shares, in order to offset SAR 110 million accumulated losses.

 

Key Figures of the Capital Reduction

Current Capital

SAR 240 mln

Number of shares

24 mln shares

Reduction (%)

45.83%

New Capital

SAR 130 mln

New number of shares

13 mln shares

Method

Writing off 11 million shares

Reason

Capital restructuring to offset accumulated losses

Date

May 23, 2021

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.