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Kar shareholders and creditors approve debt conversion
Al-Keir International announced that it has received preliminary approvals from its main creditors, Iraad Holding Company and Mohammed bin Ali Al-Dulaian, regarding the conversion of total debts amounting to 28.25 million SAR into shares in the company. This step is part of its efforts to restructure its capital and improve its financial position, in line with a strategic options study aimed at supporting sustainability and reducing the debt burden. The approvals are still in the initial phase and require the completion of legal and financial procedures, as well as approval from the shareholders and the extraordinary general assembly before final implementation.
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