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Reduction will be limited to treasury shares: Seera
Seera Group Holding Co. submitted its application for a capital reduction to the Capital Market Authority (CMA).
In a statement to Tadawul, the group said the reduction will apply only to the company’s treasury shares and will not affect shares owned by other shareholders.
It added that the capital reduction is subject to the approval of the relevant regulatory authorities and the company’s shareholders.
The group affirmed that it will disclose any material developments.
According to data available with Argaam, the board recommended in June reducing the group’s capital by 8.65%, from SAR 3 billion to SAR 2.74 billion, as the current capital exceeds the company’s needs.
As many as 25.95 million ordinary treasury shares will be cancelled, including 2.03 million ordinary shares allocated to the employee share program.
The company’s treasury shares currently represent 8.8% of its total shares. If the proposed capital reduction is approved, treasury shares will comprise 0.18% of the company’s total shares following the reduction.
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Developments Related to Capital Reduction |
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Date |
Details |
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May 29, 2025 |
Completed the purchase of 23.92 million shares at SAR 23.56 per share and held them as treasury shares, with a total value of SAR 563.55 million. |
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June 19, 2025 |
Recommended reducing capital by 8.65% due to excess capital by cancelling 25.95 million treasury shares, including 2.03 million shares allocated to the employee stock incentive program (ESIP). |
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June 19, 2025 |
Recommended purchasing up to 26.92 million shares, or a maximum of 10% of the company’s total shares, to be held as treasury shares. |
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