A SIIG factory
Saudi Industrial Investment Group’s (SIIG) shareholders approved, during the extraordinary general meeting (EGM) held on May 21, the board’s proposal to cut capital by 10% from SAR 7.54 billion to SAR 6.8 billion. 
The decision was taken as the capital is in excess of the company’s needs.
Capital Cut Details
Current Capital
SAR 7.5 bln
No. of Shares
754.80 mln
New Capital
SAR 6.8 bln
New Number of Shares
679.32 mln
Reduction (%)
10%
Method
Writing off 75.48 mln shares at SAR 10 each, at one share for every 10 shares
Reason
Due to the capital being in excess of the company’s needs. Shareholders will be compensated for the cancelled shares by the distribution of SAR 754.8 million, at the rate of SAR 10 per cancelled share.
Date
May 21, 2025 (Shareholders registered with the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM)
In addition, shareholders authorized the board of directors to distribute interim dividends on a quarterly or semi-annual basis for 2025.
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They further approved the board’s recommendation to purchase 11 million ordinary shares, and allocate 10 million as treasury shares, as the board deems the current stock price to be below its fair value. The remaining one million treasury shares will be allocated to the long-term employee incentive program.
The EGM also approved the employee incentive program, with the board being authorized to adopt any future amendments to the program.
A SIIG factory
Saudi Industrial Investment Group’s (SIIG) shareholders approved, during the extraordinary general meeting (EGM) held on May 21, the board’s proposal to cut capital by 10% from SAR 7.54 billion to SAR 6.8 billion.
The decision was taken as the capital is in excess of the company’s needs.
Capital Cut Details
Current Capital
SAR 7.5 bln
No. of Shares
754.80 mln
New Capital
SAR 6.8 bln
New Number of Shares
679.32 mln
Reduction (%)
10%
Method
Writing off 75.48 mln shares at SAR 10 each, at one share for every 10 shares
Reason
Due to the capital being in excess of the company’s needs. Shareholders will be compensated for the cancelled shares by the distribution of SAR 754.8 million, at the rate of SAR 10 per cancelled share.
Date
May 21, 2025 (Shareholders registered with the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM)
In addition, shareholders authorized the board of directors to distribute interim dividends on a quarterly or semi-annual basis for 2025.
For more news on listed companies
They further approved the board’s recommendation to purchase 11 million ordinary shares, and allocate 10 million as treasury shares, as the board deems the current stock price to be below its fair value. The remaining one million treasury shares will be allocated to the long-term employee incentive program.
The EGM also approved the employee incentive program, with the board being authorized to adopt any future amendments to the program.
