[ad_1]
The Saudi Arabian Board of Directors, Amiantit, recommended to reduce the company's capital from 1155 million SR to 640.63 million SR (44.53%), As shown in the following table:
|
Detail of the capital reduction |
|
|
Current capital |
1155,00 million riyals |
|
Number of actions |
115.50 million shares |
|
Discount rate |
44.53% (equivalent to 2.25 shares per share) |
|
Capital after reduction |
R $ 640.63 million |
|
Number of actions after reduction |
64.06 million shares |
|
reasons |
Restructuring of certain companies of the Amiantit group and extinguishment of the existing capital of 514.37 million RS to support the accumulated losses resulting from the restructuring. |
The company said: "The capital reduction would have no significant impact on the company's liabilities or activities.This reduction is expected to have a positive impact on the overall financial performance of the group due to amortization. accumulated losses, which includes the restructuring of some of its financially troubled companies.
The company said in a statement today, "Tadawul", that the capital reduction and the number of shares subject to the approval of the official bodies and the General Assembly.
It will be announced later when appointing a financial advisor to the company in order to reduce the capital and when applying for capital reduction to the capital market supervisory authority in order to reduce the capital. obtain approval in addition to any other significant development.
[ad_2]
Source link
