Saudi Paper’s shareholders to vote on capital cut on Sept. 10
15/08/2018
Argaam
Saudi Paper Manufacturing Co.’s shareholders are set to vote on a 45.56 percent capital cut to SAR 245 million from SAR 450 million, on Sept. 10, 2018.
|
Key Figures of the Capital cut |
|
|
Current Capital |
SAR 450 mln |
|
Number of shares |
45 mln shares |
|
Hike (%) |
45.56% (0.911 for every 2 shares) |
|
New Capital |
SAR 245 mln |
|
New number of shares |
24.5mln shares |
|
Method |
Writing off 20.5 mln shares |
|
Deriver |
Restructuring capital to offset accumulated losses of SAR 205 mln |
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