Chemanol approved a request to reduce its capital to 150 million riyals
Last Thursday, the Capital Market Authority approved the methanol chemicals company’s request "Chemanol" Reducing the company’s capital.
The company had announced on the website "Saudi Arabia trading" On January 5, the capital reduction file was submitted to the Capital Market Authority.
The request included reducing the company’s capital from 674.5 million riyals to 150 million riyals, thus reducing the number of shares from 67.45 million shares to 15 million shares.
The company said: The capital reduction is conditional on the approval of the extraordinary general assembly, for which the company will publish the invitation at a later time.
The company noted the publication of the shareholders’ circular that contains On the proposed method of reducing capital and the expected effects of that reduction sufficiently before the extraordinary general assembly is held so that shareholders can vote on the decision to reduce capital.
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