Atheeb Telecom's shareholders to vote on capital cut
29/01/2018
Argaam
Etihad Atheeb Telecommunications Co.’s shareholders will vote on a 25 percent capital cut to offset losses in an extraordinary general assembly meeting on Feb. 13, the company said in a bourse statement.
Shareholders will also vote on amending articles of the corporate law.
Earlier this month, the company’s board recommended a 25 percent capital reduction to SAR 472.5 million from SAR 630 million to offset accumulated losses, according to data compiled by Argaam.
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