Saudi Fisheries Co. Announces an update on The Board of Directors' recommendation to reduce the company's capital.
| Element List | Explanation |
|---|---|
| Introduction | Reference to the company's announcement on the Tadawul website dated 02-01-2024 regarding the Board of Directors' recommendation to the company's capital reduction. And the company’s announcement on the Tadawul website on May 20, 2024 regarding amending the percentage of capital reduction.
The Saudi Fisheries Company announces the Board of Directors' decision made by circulation on August 12, 2024, regarding the Board's recommendation to amend the percentage reduction in capital from 66.2% to 76.0789% as follows: Capital before reduction: 400,000,000 SAR Capital after reduction: 95,684,400 SAR Capital reduction percentage: 76.0789% Number of shares before reduction: 40,000,000 Number of shares after reduction: 9,568,440 Reason for capital reduction: Restructuring the company's capital to offset accumulated losses. Method of capital reduction: Cancellation of 30,431,560 shares. |
| Previous Announcement | The Board of Directors' recommendation to reduce the company's capital. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-05-20 Corresponding to 1445-11-12 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Saudi Fisheries Company announces the Board of Directors' decision made by circulation on August 12, 2024, regarding the Board's recommendation to amend the percentage reduction in capital from 66.2% to 76.0789% as follows:
Capital before reduction: 400,000,000 SAR Capital after reduction: 95,684,400 SAR Capital reduction percentage: 76.0789% Number of shares before reduction: 40,000,000 Number of shares after reduction: 9,568,440 Reason for capital reduction: Restructuring the company's capital to offset accumulated losses. Method of capital reduction: Cancellation of 30,431,560 shares. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
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