Red Sea International Company Announces Submitting An Application for Capital Reduction to the Capital Market Authority
| Element List | Explanation |
|---|---|
| Introduction | With reference to Red Sea International Company (the "Company") announcement on Tadawul website on 13/09/1443H corresponding to 14/04/2022 regarding the Board of Directors’ recommendation to reduce the Company's capital and then increase the company's capital through rights issue, as well as the Company's Addendum Announcement on Tadawul website on 21/10/1443H corresponding to 22/05/2022 regarding to the Board of Directors’ recommendation to reduce company's capital and then increase the company's capital through rights issue.
The Company announces that it has submitted the application file for approval to reduce the company's capital to the Capital Market Authority ("CMA") for approval on 28/10/1443H corresponding to 29/05/2022. |
| Date of Submitting the Application File to CMA | 2022-05-29 Corresponding to 1443-10-28 |
| Application Subject | The reduction of the Company’s capital. |
| Date of Announcing Board Recommendation to Decrease the Company's Capital on Tadawul's Website | 2022-04-14 Corresponding to 1443-09-13 |
| Additional Information | The Company will announce any future development regarding this matter as they become available. |
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