Saudi Arabia’s Capital Markets Authority has approved Al Kathiri Holding Company’s request to reduce its capital from SAR 113,022,000 to SAR 9,649,705, conditional on approval by the company’s extraordinary general assembly and completion of the necessary regulatory procedures. The proposed reduction would decrease the number of shares from 226,044,000 to 19,299,410. The company will publish a disclosure document explaining the proposed reduction method and its expected effects sufficiently ahead of the extraordinary general assembly meeting to enable shareholders to vote. The regulatory approval confirms compliance with the Capital Market Law and its implementing regulations, rather than endorsing the feasibility of the reduction.
Saudi Arabia’s Capital Markets Authority approves Al Kathiri Holding’s capital reduction from SAR 113,022,000 to SAR 9,649,705 subject to shareholder approval
Saudi Arabia’s Capital Markets Authority has conditionally approved Al Kathiri Holding Company’s proposed capital reduction from SAR 113,022,000 to SAR 9,649,705, cutting its share count from 226,044,000 to 19,299,410. The reduction requires extraordinary general assembly approval and completion of regulatory procedures, with shareholders to receive a disclosure document explaining its method and expected effects before the meeting. The authority’s approval confirms regulatory compliance, not the reduction’s feasibility.