Red Sea International shareholders to vote on 49.61% capital cut on July 24
28/06/2022
Argaam
Logo of Red Sea International Co.
Red Sea International Co.’s shareholders will vote on the board of directors’ recommendation to cut capital by 49.61% from SAR 600 million to SAR 302.34 million, during the extraordinary general meeting (EGM) slated for June 24, according to a bourse statement.
Meanwhile, they will vote on amending articles of associations related to capital and shares’ subscription.
Electronic voting on the EGM agenda will start on July 20.
In May, the board of directors amended its capital cut recommendation to 49.61% from SAR 309.39 million to SAR 302.34 million through writing off one share for every 2.016 shares held, according to data available with Argaam.
Related News
| Red Sea International board amends capital cut proposal to 49.61%, to include Q1 2022 accumulated losses |
Market Indices
TASI
10,542.23
(47.72)
(0.45 %)
Quotes
RED SEA
21.10
(0.20)
(0.94%)
About Us
Join Us
Argaam Tools is an advanced tool that provides investors, analysts, research houses, and corporate executives with easy access to a single source for in-depth data on macroeconomy, capital market, sectors, and companies insights.
Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}