Logo ofRaydan Food Co.
Raydan Food Co.’s shareholders approved a 53.74% reduction in the company’s capital, lowering it to SAR 73.14 million from SAR 158.08 million, during an extraordinary general meeting (EGM) held on Nov. 2. 
The move is intended to restructure capital and offset accumulated losses. The company said in a statement to Tadawul that the reduction will not affect its financial obligations.
Capital Reduction Details
Current Capital
SAR 158.08 mln
Current No. of Shares
15.81 mln
New Capital
SAR 73.31 mln
New No. of Shares
7.31 mln
Reduction (%)
53.74%
Reason
Restructuring the company’s capital to offset accumulated losses.
Date of Capital Reduction
By the close of the second trading day followingthe EGMthatwill decide on the capital cut.
Method
Writing off 8.5 mln shares at 0.53736 shares for every share held.
The Saudi Exchange (Tadawul) saidthatthe fluctuation limits for Raydan shares will be based on a price of SAR 29.82. Accordingly,all existing orders will be canceled.
The trading of the company’s shares will be suspended, in accordance with the Listing Rules, for two working days starting Nov. 3.
The Securities Depository Center Company (Edaa) will apply the share reduction in the shareholders’ investment portfolios.
Trading of Raydan’s shares will resume at the endof Nov. 4thsession.
Logo ofRaydan Food Co.
Raydan Food Co.’s shareholders approved a 53.74% reduction in the company’s capital, lowering it to SAR 73.14 million from SAR 158.08 million, during an extraordinary general meeting (EGM) held on Nov. 2.
The move is intended to restructure capital and offset accumulated losses. The company said in a statement to Tadawul that the reduction will not affect its financial obligations.
Capital Reduction Details
Current Capital
SAR 158.08 mln
Current No. of Shares
15.81 mln
New Capital
SAR 73.31 mln
New No. of Shares
7.31 mln
Reduction (%)
53.74%
Reason
Restructuring the company’s capital to offset accumulated losses.
Date of Capital Reduction
By the close of the second trading day followingthe EGMthatwill decide on the capital cut.
Method
Writing off 8.5 mln shares at 0.53736 shares for every share held.
The Saudi Exchange (Tadawul) saidthatthe fluctuation limits for Raydan shares will be based on a price of SAR 29.82. Accordingly,all existing orders will be canceled.
The trading of the company’s shares will be suspended, in accordance with the Listing Rules, for two working days starting Nov. 3.
The Securities Depository Center Company (Edaa) will apply the share reduction in the shareholders’ investment portfolios.
Trading of Raydan’s shares will resume at the endof Nov. 4thsession.
