Al-Asmak shareholders nix 500% capital hike
The Saudi Fish Company (Al Asmak) announced that its shareholders rejected the proposed 500% capital increase, despite 72.36% of the votes being in favor. The proposal did not achieve the required legal quorum. The plan aimed to raise the capital from 66.98 million SAR to 402 million SAR through the issuance of 33.5 million priority rights shares, in order to support the company's plans and future strategies. Additionally, the election of the new Board of Directors for the upcoming three-year term was approved, starting from October 25, 2026, which included the election of five new members to the board.
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