SIECO shareholders to vote on 66.66% capital reduction on Feb. 15

10/02/2022 Argaam

Shareholders of Saudi Industrial Export Co. (SIECO) will discuss the board’s recommendation on decreasing capital by 66.66% from SAR 64.8 million to SAR 21.6 million, during the extraordinary general meeting (EGM) that will be held on Feb. 15.

 

SIECO will slash the number of shares from 6.48 million to 2.16 million, the company said in a statement to Tadawul.

 

There is no financial impact from the capital reduction process on the company’s financial obligations.

 

In December 2021, SIECO’s board of directors proposed to slash capital by 66.66%, by writing down two shares for every three outstanding shares to SAR 21.6 million, Argaam earlier reported.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.