GO shareholders to vote on capital cut ahead of termination

22/04/2019 Argaam

 

Etihad Atheeb Telecommunication Co. (GO) has invited shareholders to vote on April 24 on 25.81 percent capital reduction, the telecom operator said in a bourse filing on Monday.

 

The company will face termination on April 25 under the Saudi Companies Law if it fails to hold an extraordinary general assembly meeting within 45 days from the date its board of directors were informed of losses.

 

The company’s shareholders are set to vote on cutting capital to SAR 350.53 million from SAR 472.5 million, Argaam earlier reported.

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