-
Bank Ranking
Banks Ratios
Cement Statistics
Cement Ranking
Cement Ratios
Monetary and Economic Statistics
Oil, Gas and Fuel
Macro Economy
Consumer Spending
Inflation
Exports & Imports
Food Prices
Non Food Prices
Construction Materials
Petrochem. Ranking
Petrochem. Ratios
Retail Rankings
Retail Ratios
Grocery Ranking
Grocery Ratios
Top Growth
Dividend History
GO recommends capital reduction to offset losses
AI Summary
Etihad Atheeb Telecommunication Co.’s (GO) board of directors recommended a 25.81 percent capital reduction to SAR 350.53 million from SAR 472.5 million to offset accumulated losses, the company said in a statement on Tadawul.
The capital cut is pending approval from the general assembly and regulator.
There is no significant impact of the capital reduction on the company's liabilities or operations, the statement added.
Earlier this month, the company said that its accumulated losses as of March13, 2019 reached SAR 243.9 million representing 51.63 percent of capital, as reported by Argaam.
|
Key Figures of the Capital Reduction |
|
|
Current Capital |
SAR 472.5 mln |
|
Number of shares |
47.25 mln shares |
|
Reduction (%) |
25.81% (1 for every 3.87 shares) |
|
New Capital |
SAR 350.53 mln |
|
New number of shares |
35.05 mln shares |
|
Method |
Canceling 12.2 mln shares |
|
Record date |
General assembly meeting |
|
Driver |
To offset 50% of accumulated losses (SAR 121.97 mln) |
|
Changes in GO’s Capital Since Listing |
|||
|
Change |
Date |
Previous capital (SAR mln) |
New capital (SAR mln) |
|
Capital Cut |
-- |
472.50 |
350.53 |
|
Capital Cut |
Feb. 2018 |
630.00 |
472.50 |
|
Capital Cut |
April 2017 |
1,575.00 |
630.00 |
|
Capital Hike (rights issue) |
Jan. 2012 |
400.00 |
1,575.00 |
|
Capital Cut |
Aug. 2011 |
1,000.00 |
400.00 |
Comments 0
Be the first to comment
- TASI falls 5.4% between Eid al-Fitr holidays 2024/25
- Saudi Arabia’s electricity consumption rises 5.7% in 2023
- Oil prices rise on supply concerns; trade war fears cap gains
- LCGPA adds 116 products to mandatory list of national products
- New commercial register, trade names laws effective as of April 3
Market Indices
Quotes
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments Analysis: