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Al-Kathiri proposes 61.27% capital reduction to cover losses
Muitas Holding Company announced that its Board of Directors has recommended a capital reduction of 61.27%, decreasing the capital from 113.02 million Saudi Riyals to 43.78 million Saudi Riyals, aiming to restructure the capital and offset accumulated losses. This reduction will be carried out by canceling 138.49 million shares. There will be no material impact on the company's obligations, financial performance, or operations. The decision is subject to approval by the Capital Market Authority and the Extraordinary General Assembly.
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