Atheeb Telecom's shareholders to vote on capital cut

Etihad Atheeb Telecommunications Co.’s shareholders will vote on a 25 percent capital cut to offset losses in an extraordinary general assembly meeting on Feb. 13, the company said in a bourse statement.

Shareholders will also vote on amending articles of the corporate law.

Earlier this month, the company’s board recommended a 25 percent capital reduction to SAR 472.5 million from SAR 630 million to offset accumulated losses, according to data compiled by Argaam.