Edaa implements corporate action on MEDGULF

27/04/2021 Argaam

MEDGULF branch

The Securities Depository Center Co. (Edaa) implemented the securities quantity decrease for The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) into the accounts of eligible shareholders today, April 27, 2021, it said in a statement.

 

According to data compiled by Argaam, the company’s shareholders approved reducing the company's capital by 12.5% to SAR 700 million from SAR 800 million, through writing off 10 million shares, during the extraordinary general assembly meeting (EGM) held on April 22, 2021.

 

Trading on the company’s shares is suspended for two business days, starting April 25, and will commence today.

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