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Danah Al Safat nods to 10% capital cut, dividends

Danah Al Safat nods to 10% capital cut, dividends
A previous meeting of Danah Al Safat
DANAH
DANAH
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Mubasher: The shareholders of Danah Al Safat Foodstuff have approved on Sunday to reduce the capital by 10.19% to KWD 12.168 million from KWD 10.928 million.

The capital cut will be executed by trimming the accumulated losses of nearly KWD 239,504 as registered on 31 December 2018, with cancelling 2.395 million shares, Danah Al Safat said in a bourse disclosure on Sunday.

Furthermore, the shareholders approved on distributing KWD 1 million worth of cash dividends through cancelling 10 million shares.

In mid-June, Danah Al Safat recommended to the Capital Markets Authority (CMA) to decrease the capital by KWD 1.24 million.