The CMA has issued its resolution approving United Wire Factories Company’s request to reduce its capital from SAR (438,750,000) to SAR (351,000,000), thus reducing the number of shares from (43,875,000) shares to (35,100,000) shares. This approval is conditional on the Company’s extraordinary general assembly approval and completion of the necessary procedures in relation to the applicable regulations. The Company will publish a disclosure document to its shareholders related to the proposed method of capital reduction and the expected effect of such reduction within sufficient time prior to the Extraordinary General Assembly Meeting to enable shareholders to vote on the capital decrease. The CMA’s approval of a particular company’s application to reduce its capital should never be viewed as an endorsement of the feasibility of the capital decrease. The CMA’s approval of a company’s application to reduce its capital merely means that the regulatory requirements as per the Capital Market Law and its Implementing Regulations have been met.
Related Posts
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.
Element ListExplanation Introduction In addition to the announcement by the United Wire Factories Company of signing... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company
Element ListExplanation Introduction Further to the announcement of the United Wire Factories Co. on October 24,... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( 6 months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 208.3217.7-4.32298.8-30.29 Gross Profit (Loss) 29.121.237.2638-23.42 Operational Profit (Loss)... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company
Element ListExplanation Introduction In reference to the announcement by United Wire Factories Company on October 24,... read more
United Wire Factories Co. announces its Annual Financial Results for the Period Ending on 2022-12-31
Element ListCurrent YearPrevious Year%ChangeSales/Revenue 1,026.4921.311.41 Gross Profit (Loss) 107.385.625.35 Operational Profit (Loss) 67.256.419.15 Net Profit (Loss)... read more
United Wire Factories Co. Announces Appointment of a Financial Advisor for Capital Decrease
Element ListExplanationIntroduction Further to the company's announcement published on the Tadawul website on 04/09/1444 corresponding to 11/03/2022 regarding the... read more
The United Wire Factories Co. announces the latest developments regarding its previous announcement of signing a memorandum of understanding with A-1 Fence DMCC (UAE) for the possible acquisition of a stake in the ownership of A-1 Fence Arabia Company for Industry (a foreign limited company)
Element ListExplanation Introduction Further to the announcement by the United Wire Factories Co. of signing a... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company
Element ListExplanation Introduction Further to the announcement of the United Wire Factories Co. on October 21,... read more
United Wire Factories Co. Announces the Deposit Date of Sums Resulting from Selling Fractional Stocks Following Decrease of the Company’s Capital in the Accounts of Eligible Shareholders
... read more
United Wire Factories Co. announces its Estimated Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 208.3217.7-4.32298.8-30.29 Gross Profit (Loss) 29.121.237.2638-23.42 Operational Profit (Loss)... read more