Al-Keir International plans 72% capital cut to offset losses
Al Maha International Company announced that its Board of Directors has recommended a reduction of its capital by 72.02%, from 120 million SAR to 33.57 million SAR, to offset accumulated losses. The number of the company's shares will decrease from 120 million to 33.577 million shares, through the cancellation of 86.422 million shares, approximately equivalent to canceling about 0.72 shares for each held share. This process is part of its plan to restructure the capital, without any significant impact on the company's obligations or financial performance, and is subject to approval by relevant regulatory authorities and the general assembly. The reduction process will commence after obtaining the necessary approvals and completing legal procedures.
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