AI Summary
Logo of Naseej International Trading Co.
Naseej International Trading Co.’s shareholders will vote on the board of directors’ recommendation to cut capital by 48.51% from SAR 211.63 million to SAR 108.97 million, during the extraordinary general meeting (EGM) slated for June 9, according to a bourse statement.
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Key Figures of Capital Reduction |
|
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Current Capital |
SAR 211.63 mln |
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Number of Shares |
21.16 mln |
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Reduction (%) |
48.51% |
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New Capital |
SAR 108.97 mln |
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New Number of Shares |
10.90 mln |
|
Reason |
To write off SAR 102.66 mln in accumulated losses |
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Date of Reduction |
June 9, 2022 (Shareholders of record at the end of second trading day after the EGM date) |
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Method of Reduction |
Writing off 10.26 mln shares (0.485 share for every one share) |
In March, the board of directors recommended a 48.51% capital cut from SAR 211.63 million to SAR 108.97 million through writing off 10.27 million shares (0.485 share for every one share), according to data available with Argaam.
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