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Saudi Industrial Development Company (SIDC) Announces updates on Decrease of the Company’s Capital File at CMA
| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement issued by Saudi Industrial Development Company (SIDC) and published on the Saudi market website on 17/12/1445 AH (corresponding to 23/06/2024 AD) regarding submitting a capital reduction request to the Capital Market Authority, the company is pleased to announce the issuance of the approval of the Capital Market Authority on 11/01/1446 AH (corresponding to 17/07/2024 AD) on the company's request to reduce its capital from (400,000,000) SAR to (135,000,000) SAR, thus reducing the number of shares from (40,000,000) shares to (13,500,000)shares. This approval is conditional on the approval of the company's Extraordinary General Assembly and the completion of the relevant legal procedures and requirements. The company will complete the procedures for holding the Extraordinary General Assembly of its shareholders in coordination with the relevant authorities and will announce that at a later time. The shareholders’ circular regarding the reduction of the company’s capital will also be published sufficiently before the date of the aforementioned Extraordinary General Assembly. |
| Date of Announcing the Application on Saudi Exchange’s Website | 2024-06-23 Corresponding to 1445-12-17 |
| Date of Submitting the File | 2024-06-13 Corresponding to 1445-12-07 |
| Application Status at CMA | The approval of the Capital Market Authority for the Company’s Capital Decrease Application has been obtained. |
| Other Substantial Updates | The Company will announce any further material developments in relation to this subject in a timely manner as required by the relevant laws and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
Key Parameters
Last Price 30.9
Net Change 0.0 (0.0%)
Value Traded (Sar) 9,638,700.24
Volume Traded 308,271
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