Allied Cooperative Insurance Group (ACIG) sold 5,047 fractional shares on Sept. 1, 2020 at SAR 35.35 per share for a total of SAR 178,411, the company said in a statement to Tadawul.
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Details of Selling Fractional Shares |
|
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Date of Selling Fractional Shares |
Sept. 1, 2020 |
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No. of Shares Sold |
5,047 shares |
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Proceeds from Selling Fractional Shares |
SAR 178,411 |
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Average selling price |
SAR 35.35 |
ACIG will not be able to deposit the funds into shareholders accounts during the announced period in the shareholders ’circular (30 days from the shareholders’ approval date on the capital cut), the statement added.
The company clarified that the designated bank would delay in finalizing transferring procedures, expecting funds to be deposited into shareholders accounts on Oct. 1, 2020.
Last month, the company’s shareholders approved a 29.5% capital cut to SAR 141 million from SAR 200 million during the extraordinary general assembly meeting (EGM) held on August 26, 2020.
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