Naseej shareholders to vote on capital cut on Dec. 20

Naseej International Trading Co.’s shareholders will vote on reducing capital to SAR 61.63 million from SAR 178.16 million, during the extraordinary general meeting (EGM) on Dec. 20, 2020, according to a bourse filing.

Accordingly, the total number of the company's shares will decrease from 17.82 million to 6.16 million.

The statement said that 11.65 million shares (1 share for every existing 1.529 shares) will be written off.

The will be no material impact from the capital decrease on its financial liabilities.