SAIC reduces affiliate’s capital by 78%

31/12/2012 Argaam

Saudi Advanced Industries Company (SAIC) announces that the partners of affiliated Tasnee & Advanced Polyols and Derivatives Co. (a limited liability company) decided on 31/12/2012 to reduce the company’s capital from SAR140 million to SAR30 million (by 78.57%) as the capital exceeds the company’s needs currently. The differential (SAR 110 million) will be returned to partners after completion of procedures.SAIC owns 50% in the capital of the company, and the reduction will not change ownership ratios or company’s liabilities.

 

Further developments will be announced in due course.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
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.