The Saudi Hotel Company announced a subsidiary’s capital reduction

01/01/2013 Argaam

The Saudi Hotel Company announced that partners of Almadina Hotel Company LLC., decided on the 31/12/2012 to reduce capital by 96%, from SAR 25 millions to SAR 1 million because of excessive, unnecessary allocated capital for the time being.  Saudi Hotel Company owns 50% of Almadina Hotels Company LLC. The reduction will have little to no effect on the company’s stake, according to a statement on tadawul.

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