Logo ofSaudi Printing and Packaging Co.
Shareholders of Saudi Printing and Packaging Co. will vote on a board recommendation to reduce the company’s capital by 89.42% to SAR 68.97 million from SAR 652.07 million at an extraordinary general meeting (EGM) on Oct. 26. 
Capital Cut Details
Current Capital
SAR 652.07 mln
Current Number of Shares
65.21 mln
New Capital
SAR 68.97 mln
New Number of Shares
6.90 mln
Reduction (%)
89.42 %
Reason
Restructuring capital to offset SAR 583.10 million of accumulated losses.
Impact
The capital reduction will have no impact on the company’s financial obligations or operations, or on its financial, operational or regulatory performance
Method
Writing off 58.31 mln shares (0.8942 share for every one share held)
Reduction Date
The decision, if approved, will be effective for shareholders owning shares on the day of the EGM who are registered with Edaa at the end of the second trading day following EGM date.
Shareholders will also vote on amending articles 7 and 8 of the company’s bylaws relating to the capital and subscription to its capital.
Logo ofSaudi Printing and Packaging Co.
Shareholders of Saudi Printing and Packaging Co. will vote on a board recommendation to reduce the company’s capital by 89.42% to SAR 68.97 million from SAR 652.07 million at an extraordinary general meeting (EGM) on Oct. 26.
Capital Cut Details
Current Capital
SAR 652.07 mln
Current Number of Shares
65.21 mln
New Capital
SAR 68.97 mln
New Number of Shares
6.90 mln
Reduction (%)
89.42 %
Reason
Restructuring capital to offset SAR 583.10 million of accumulated losses.
Impact
The capital reduction will have no impact on the company’s financial obligations or operations, or on its financial, operational or regulatory performance
Method
Writing off 58.31 mln shares (0.8942 share for every one share held)
Reduction Date
The decision, if approved, will be effective for shareholders owning shares on the day of the EGM who are registered with Edaa at the end of the second trading day following EGM date.
Shareholders will also vote on amending articles 7 and 8 of the company’s bylaws relating to the capital and subscription to its capital.
