Logo ofSeera Group Holding
Seera Group Holding’sboard of directors recommended on June 18 to reduce the company’s capital by 8.65%, from SAR 3 billion to SAR 2.74 billion, citing excess capital, according to a statement to Tadawul. 
Capital Cut Details
Current Capital
SAR 3 bln
Number of Shares
300 mln
New Capital
SAR 2.74 bln
New Number of Shares
274 mln
Reduction (%)
8.65%
Method
Writing off 25.95 million ordinary treasury shares including approximately 2.03 million shares allocated to the company’s employee stock program. The capital cut amounts to 8.65% of the company’s capital before reduction, or 8.65 shares for every 100 shares held.
Reason
To reduce excess capital.
Date of Reduction
End of the second trading day after the EGM date
The company foresees no material impact on its financial, operational, regulatory obligations, operations, or performance from the planned capital reduction. The board’s recommendation is still subject to approvals of the relevant authorities and its shareholders.
An announcement will be made when a financial advisor is appointed, as well as when the capital cut file is submitted to the Capital Market Authority (CMA) for approval, it added.
For more news on listed companies
Logo ofSeera Group Holding
Seera Group Holding’sboard of directors recommended on June 18 to reduce the company’s capital by 8.65%, from SAR 3 billion to SAR 2.74 billion, citing excess capital, according to a statement to Tadawul.
Capital Cut Details
Current Capital
SAR 3 bln
Number of Shares
300 mln
New Capital
SAR 2.74 bln
New Number of Shares
274 mln
Reduction (%)
8.65%
Method
Writing off 25.95 million ordinary treasury shares including approximately 2.03 million shares allocated to the company’s employee stock program. The capital cut amounts to 8.65% of the company’s capital before reduction, or 8.65 shares for every 100 shares held.
Reason
To reduce excess capital.
Date of Reduction
End of the second trading day after the EGM date
The company foresees no material impact on its financial, operational, regulatory obligations, operations, or performance from the planned capital reduction. The board’s recommendation is still subject to approvals of the relevant authorities and its shareholders.
An announcement will be made when a financial advisor is appointed, as well as when the capital cut file is submitted to the Capital Market Authority (CMA) for approval, it added.
