Logo ofSaudi Industrial Investment Group (SIIG)
Saudi Industrial Investment Group’s (SIIG) board recommended reducing the company’s capital by 10% to SAR 6.79 billion from SAR 7.54 billion, citing surplus funds, according to a statement to Tadawul. 
Capital Cut Details
Current Capital
SAR 7.55 bln
Current Number of Shares
7.548 bln
New Capital
SAR 6.79 bln
New Number of Shares
679.32mln
Percentage Decrease
10%
Method
Cancelling 10% of shares and compensating eligible shareholders.
Reason
Excess capital.
Date of Capital Reduction
By the end of the second trading day following the EGMthat will decide on the capital cut
The reduction, funded through surplus cash balances, will not materially impact SIIG’s financials, operations, or performance but is expected to improve certain financial ratios, the statement added.
Details of the process will be disclosed in the Shareholders’ Circular following regulatory procedures. The proposal is subject to approval by regulatory authorities and the company’s extraordinary general assembly.
SIIG also plans to announce the appointment of a financial adviser and submission of the capital reduction application to the Capital Market Authority (CMA) at a later date.
Logo ofSaudi Industrial Investment Group (SIIG)
Saudi Industrial Investment Group’s (SIIG) board recommended reducing the company’s capital by 10% to SAR 6.79 billion from SAR 7.54 billion, citing surplus funds, according to a statement to Tadawul.
Capital Cut Details
Current Capital
SAR 7.55 bln
Current Number of Shares
7.548 bln
New Capital
SAR 6.79 bln
New Number of Shares
679.32mln
Percentage Decrease
10%
Method
Cancelling 10% of shares and compensating eligible shareholders.
Reason
Excess capital.
Date of Capital Reduction
By the end of the second trading day following the EGMthat will decide on the capital cut
The reduction, funded through surplus cash balances, will not materially impact SIIG’s financials, operations, or performance but is expected to improve certain financial ratios, the statement added.
Details of the process will be disclosed in the Shareholders’ Circular following regulatory procedures. The proposal is subject to approval by regulatory authorities and the company’s extraordinary general assembly.
SIIG also plans to announce the appointment of a financial adviser and submission of the capital reduction application to the Capital Market Authority (CMA) at a later date.
