Fitaihi capital reduction to come into effect after expiry of creditors' objection on Sept. 5
29/08/2021
Argaam
Fitaihi Holding Group headquarters
Fitaihi Holding Group announced that the creditors' objection period will expire on Sunday, Sept. 5, according to a bourse statement today, Aug, 29.
Under the Companies Law, the decision to reduce the company's capital will be effective immediately after the creditors' objection period expires, if creditors do not object the capital reduction decision.
Fitaihi shareholders approved a 50% capital cut to SAR 275 million from SAR 550 million, during the extraordinary general assembly meeting (EGM) held on July 7, according to data compiled by Argaam.
Related News
| Fitaihi shareholders approve 50% capital cut, creditors objection period begins today |
| CMA approves Fitaihi’s request to cut capital to SAR 275 mln |
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