Edaa implements securities quantity reduction for Thimar

06/06/2024 Argaam
Logo ofThimar Development Holding Co.

Logo of Thimar Development Holding Co.

The Securities Depository Center Co. (Edaa) implemented today, June 6, a securities quantity decrease on the accounts of eligible Thimar Development Holding Co.’s shareholders according to a statement to Tadawul.

 

 

The company’s extraordinary general meeting (EGM) earlier approved the board’s recommendation to cut capital by 74%, from SAR 250 million to SAR 65 million. The move aimed to restructure capital and offset accumulated losses of SAR 185 million, Argaam reported.

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