AnnouncementDetails

Actions

Saudi Real Estate Company announces the decrease one of its subsidiaries capital (wholly owned by ALAKARIA).

Element ListExplanation
Announcement Detail The Saudi Real Estate Company announces the approval of the Extraordinary General Assembly of the Saudi Real Estate Development Company (Tamear), which is wholly owned by ALAKARIA and held on 30/06/2022 on the following:

First: Approval of reducing the company’s capital from one hundred million Saudi riyals (100,000,000) to thirty-four million Saudi riyals (34,000,000), divided into (3,400,000) nominal shares of equal value, each of which is (10) ten Saudi riyals.

Second: Approval of the amendment of Article Seven of the Articles of Association related to the company’s capital in accordance with the reduction decided in the first clause of the amendment as follows: “The company’s capital (34,000,000) determined by thirty-four million Saudi riyals, divided into (3,400,000). Three million four hundred thousand shares of nominal value, the value of each of which is (10) ten Saudi riyals, all of which are cash’s & ordinary shares.

Third: Approval of the amendment of Article Eight of the Articles of Association related to subscribing to shares in accordance with the reduction prescribed in the first clause, so that the article after the amendment becomes as follows: “The founder subscribed to the entire capital shares and paid their full value.”

Also, this reduction does not have any effect on the continuity of the company's business or its obligations.

Accordingly, the Saudi Real Estate Development Company will complete the rest of the statutory procedures resulting from the decision of the assembly’s resolution.

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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
11.16 -0.1 (-0.89%)
Value Traded (SAR) Volume Traded
1,524,376.42 137,416