Logo ofSavola Group
Savola Group shareholders approved the board’s recommendation to reduce capital by 73.54% from SAR 11.339 billion to SAR 3 billion, during the extraordinary general meeting (EGM) held on Dec. 12, according to a statement to Tadawul. 
Capital Reduction details
Capital
SAR 11.339 bln
Number of Shares
1.133 bln
New Capital
SAR 3 bln
Number of Shares
300 mln
Percentage of Reduction
73.54%
Reason
Excess capital will be cut to facilitate the distribution-in-kind of Savola’s entire stake in Almarai Co. to the eligible Savola shareholders and optimize the company’s capital structure
Date of Reduction
The capital reduction will be effective on the EGM date to shareholders of record and those registered with Edaa on the second trading date following the EGM date.
Method
Through cancelling 833.98 million shares, or 73.54% of Savola share capital, as Savola eligible shareholders will be granted a number of Almarai shares at a fair value equal to the nominal value of the cancelled shares, after adjusting for the fractional shares. Almarai shares are determined according to the market share of these shares in Tadawul on the actual date of eligibility for distribution.
Logo ofSavola Group
Savola Group shareholders approved the board’s recommendation to reduce capital by 73.54% from SAR 11.339 billion to SAR 3 billion, during the extraordinary general meeting (EGM) held on Dec. 12, according to a statement to Tadawul.
Capital Reduction details
Capital
SAR 11.339 bln
Number of Shares
1.133 bln
New Capital
SAR 3 bln
Number of Shares
300 mln
Percentage of Reduction
73.54%
Reason
Excess capital will be cut to facilitate the distribution-in-kind of Savola’s entire stake in Almarai Co. to the eligible Savola shareholders and optimize the company’s capital structure
Date of Reduction
The capital reduction will be effective on the EGM date to shareholders of record and those registered with Edaa on the second trading date following the EGM date.
Method
Through cancelling 833.98 million shares, or 73.54% of Savola share capital, as Savola eligible shareholders will be granted a number of Almarai shares at a fair value equal to the nominal value of the cancelled shares, after adjusting for the fractional shares. Almarai shares are determined according to the market share of these shares in Tadawul on the actual date of eligibility for distribution.
