Riyadh - Mubasher: Etihad Atheeb Telecommunication’s (Go) board invited the shareholders to attend the extraordinary general meeting (EGM) on 10 April.

The EGM will vote on the board’s recommendation to reduce the capital to SAR 630 million from SAR 1.57 billion, by 60%.

The company will decrease 1.2 share for every two shares through the cancellation of 94.5 million shares, according to a bourse filing on Wednesday.

Go said earlier that the capital cut is a part of its plan to restructure its capital to be in line with the New Companies Law.

In case all the shareholders approved the capital decrease in the EGM, the resolution will be valid for all the shareholders of the company registered with the Securities Depository Center Company (the center) at the close of trading on the day of the meeting.