The Capital Market Authority approves the reduction of “Al-Samaka” capital by 83.25%

The Capital Market Authority approved the Saudi Fish Company’s request to reduce capital.
According to the company’s statement on the Saudi Tadawul, the authority agreed to reduce the capital from 400 million riyals to 66.986 million riyals.
She added that the approval will be followed by reducing the number of shares from 40 million shares to 6.698 million shares.
It stated that the method of reducing capital was through canceling 33.301 million shares, with a reduction rate of 83.25%.
It stated that the reduction date will be the end of the second trading day following the extraordinary general assembly in which the capital reduction was approved.
It should be noted that this approval is conditional on obtaining the approval of the extraordinary general assembly to reduce the company’s capital and completing the relevant procedures and legal requirements.