Alasmak shareholders to vote on capital cut on Dec. 26
26/11/2018
Argaam
Saudi Fisheries Co.’s (Alasmak) shareholders are set to vote on a 49.45 percent capital cut to SAR 101.1 million from SAR 200 million, on Dec. 26, 2018.
The process aims to restructure the company’s capital and offset accumulated losses.
|
Key Figures of Capital cut |
|
|
Current Capital |
SAR 200 mln |
|
Number of shares |
20 mln shares |
|
Cut (%) |
49.45% (1 for every 2.022 shares) |
|
New Capital |
SAR 101.10 mln |
|
New number of shares |
10.11 mln shares |
|
Method |
Writing off 9.98 mln shares |
|
Deriver |
To restructure the company’s capital and offset accumulated losses |
Market Indices
TASI
10,542.23
(47.72)
(0.45 %)
Quotes
SFICO
55.10
0.85
1.57%
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