Saudi Paper to hold shareholders’ meeting to discuss capital increase

05/12/2019 Argaam

 

Saudi Paper Manufacturing Co. (SPM) is set to hold a shareholders meeting to showcase the developments of the company restructuring process, it said in a bourse statement.

 

The company also revealed plans to hold a press conference to discuss the capital increase, the use of the rights issue proceeds as well as the relevant impact on its profitability and its expansionary plans.

 

The company revealed no details as regards the date and the place of the meeting.

 

In November, SPMC shareholders approved reducing capital by 62.45% to SAR 92 million to offset the accumulated losses through cancelling 15.3 million shares.

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