| Element List | Explanation |
|---|---|
| Introduction | United Wire Factories Co. Announces Board’s Recommendation to Decrease the Company’s Capital |
| Date of Board Meeting | 2022-11-02 Corresponding to 1444-04-08 |
| Capital before decrease | 351,000,000 |
| Capital after decrease | 280,800,000 |
| Percentage of Capital decrease | 20 % |
| Number of Shares before Decrease | 35100000 |
| Number of Shares after Decrease | 28080000 |
| Reasons for the Capital Decrease | More capital than needed |
| Method of Capital Decrease | Write off 20% of the number of shares and compensate shareholders accordingly |
| Impact of the Capital Decrease on the Company’s Obligations, Operations or Operational, Financial or Organizational Performance of the Company | The reduction process will be financed by using the company’s surplus cash balances, with all details announced through circulating shareholders in accordance with the procedures, and the Board of Directors believes that the reduction will have a positive impact through improving performance indicators. |
| Date of reduction | The end of the second trading day following the end of the creditors’ objection period. |
| Approvals | The process of capital reducing and the number of shares is conditional on the approval of the official authorities and the extraordinary general assembly |
| Appointment of a Financial Advisor and the Submission of the Application for Capital Decrease to CMA | The appointment of the financial advisor for the capital reduction process will be announced later, as well as the announcement of submitting the capital reduction request file to the Capital Market Authority for approval, in addition to any other material developments. |
Related Posts
United Wire Factories Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 164.8187.2-11.965179.9-8.393 Gross Profit (Loss) 10.515.9-33.96213.8-23.913 Operational Profit (Loss)... read more
United Wire Factories Co. Announces an update on Aslak announces the signed a non-binding memorandum of understanding (40.0%) of the shares of Al Raeda Industrial Investment Company through the issuance of new shares to the shareholders of Al Raeda Industrial Investment Company in Aslak
Element ListExplanation Introduction With reference to the announcement of United Wire Factories Co. (Aslak) on Tadawul... read more
United Wire Factories Co. announces the board of director’s decision to distribute cash dividends for From the profit balance up to the end of the 4th quarter of 2024 and the nine-month period of 2025
Element ListExplanation Introduction United Wire Factories Company ASLAK announces the decision of the Board of Directors... read more
United Wire Factories Co. Announces an update on Addendum Announcement from United Wire Factories Co. in regards to extension of the candidacy period for membership of the Board of Directors for the 5th session
Element ListExplanation Introduction Addendum announcement of the United Wire Factories Co regarding the extension of the... read more
United Wire Factories Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
Element List
Explanation
Introduction
United Wire Factories Co. Board of Directors is pleased to announce the results of the Ordinary General... read more
United Wire Factories Co. announces the distribution of cash dividend for For the 1st half of the year 2022 AD
Element ListExplanation Introduction United Wire Factories Company (Aslak) announces the decision of the Board of Directors... read more
United Wire Factories Co. Announces the Submission of the Decrease of the Company’s Capital Application File to CMA
ELEMENT LIST
EXPLANATION
Introduction
No English translation, kindly refer to the Arabic version
Date of Submitting the Application File to CMA
2020-03-10 Corresponding to 1441-07-15
Application... read more
United Wire Factories Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)
Element List
Explanation
Introduction
The Board of Directors of United Wire Factories Company is pleased to invite its shareholders to participate... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
... read more
ASLAK CEO to CNBC Arabia: After two months of decline, the demand has started to recover since the beginning of this June
The CEO of ASLAK "Nabil Al-Amir" said that the demand was negatively affected during the months of April and May... read more
