Saudi Paper to discuss 46% capital cut on August 12

18/07/2018 Argaam

Saudi Paper Manufacturing Company on August 12, 2018 will discuss the board’s recommendation on a capital cut by 45.56 percent to SAR 245 million from SAR 450 million, the company said in a bourse filing.

 

The capital will be decreased by cancelling 20.5 million shares, or 0.911-for-2 shares to offset the accumulated losses.

 

There is no related impact on the company’s financial liabilities

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