The company said in a statement to the Saudi market (Tadawul) today, Wednesday, that the authority agreed to reduce the company's capital from 1.892 billion riyals to 1.4 billion riyals.
She explained that the number of shares before the reduction amounted to 189.2 million shares, to reach after the reduction to 140 million shares.
City Cement stated that this approval is conditional on the approval of the extraordinary general assembly of the company and completion of the relevant procedures and regulatory requirements.
The company will publish the shareholders circular, which contains the proposed method for reducing the capital and the expected effects of that reduction sufficiently in advance of the public meeting so that shareholders can vote on the decision to reduce the capital Money.
(Fun Knowledge of Knowledge)
