‎Fawaz Alhokair shareholders to vote on capital lower to SAR 1.15 bln on June 29

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Logo of Fawaz Abdulaziz Alhokair Co.


Fawaz Abdulaziz Alhokair Co.’s shareholders will vote on the board of directors’ recommendation to lower capital to SAR 1.15 billion, throughout the unparalleled long-established meeting (EGM) slated for June 29, in step with a bourse voice.

 The capital reduction objectives to offset the corporate’s gathered losses.

Key Figures of the Capital Carve

Contemporary Capital

SAR 2.1 bln

Selection of Shares

210 mln

Reduction (%)

45.3% (1 piece for every 2.205 shares)

New Capital

SAR 1.147 bln

New Selection of Shares

114.8 mln

Date of Reduction

By the shut of the second buying and selling day after the EGM date

Device

Writing off 95.23 mln shares