Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Fisheries Company approved, on 26 January 2025, the board’s proposal for 83.25% capital reduction, according to a bourse statement.
Following the transaction, the new capital will stand at SAR 66.98 million distributed over 6.69 million shares, compared to SAR 400 million and 40 million shares.
The board recommended the cut to restructure the company's capital to amortise accumulated losses.
Saudi Fisheries will cancel 33.30 million shares to implement the capital decrease process.
On 18 December 2024, the Capital Market Authority (CMA) greenlighted the transaction.
