Logo ofSeera Holding Group
Seera Holding Group received no objections for its proposed capital reduction as the creditors’ objection ended on May 19, according to a statement on Tadawul. 
Shareholders’ approval remains pending with an extraordinary general meeting scheduled for June 2.
Seera’s board recommended reducing the company’s capital by 8.65% to SAR 2.74 billion from SAR 3 billion, due to excess capital, Argaam earlier reported.
Capital Cut Details
Current Capital
SAR 3 bln
CurrentNumber of Shares
300 mln
Par value per share
SAR 10
New Capital
SAR 2.74 bln
New Number of Shares
274 mln
Percentage Decrease
8.65%
Method
To cancel 25.95 million treasury shares, including 2.03 million shares allocated to employee program. To write off 8.65 shares for every 100 shares, representing 8.65% of the group’s pre-reduction capital.
Reason
Excess capital beyond requirements
Date of Capital Reduction
By the end of the second trading day following the EGMthat will decide on the capital cut
Logo ofSeera Holding Group
Seera Holding Group received no objections for its proposed capital reduction as the creditors’ objection ended on May 19, according to a statement on Tadawul.
Shareholders’ approval remains pending with an extraordinary general meeting scheduled for June 2.
Seera’s board recommended reducing the company’s capital by 8.65% to SAR 2.74 billion from SAR 3 billion, due to excess capital, Argaam earlier reported.
Capital Cut Details
Current Capital
SAR 3 bln
CurrentNumber of Shares
300 mln
Par value per share
SAR 10
New Capital
SAR 2.74 bln
New Number of Shares
274 mln
Percentage Decrease
8.65%
Method
To cancel 25.95 million treasury shares, including 2.03 million shares allocated to employee program. To write off 8.65 shares for every 100 shares, representing 8.65% of the group’s pre-reduction capital.
Reason
Excess capital beyond requirements
Date of Capital Reduction
By the end of the second trading day following the EGMthat will decide on the capital cut
