| 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 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 to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting – Reminder Announcement
Element ListExplanation Introduction The Board of Directors of the United Wire Factories Company is pleased to... read more
United Wire Factories Co. announces its Annual Financial Results for the Period Ending on 2019-12-31
ELEMENT LIST
CURRENT YEAR
PREVIOUS YEAR
%CHANGE
Sales/Revenue
724.4
535
35.401
Gross Profit (Loss)
61.6
46.1
33.622
Operational Profit (Loss)
32.9
17
93.529
Net Profit (Loss) after Zakat and Tax
22.1
7.1
211.267
Total Comprehensive Income
23.2
7.6
205.263
Total Share Holders Equity (after... read more
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 Further to United Wire Factories Co announcement dated 06-12-2021 corresponding to 02-05-1443H regarding... read more
United Wire Factories Company (ASLAK) announces the signing of a share purchase agreement for the purpose of acquiring forty percent (40%) of the share capital of Al Raeda Industrial Investment Company (Al Raeda), by way of an increase in ASLAK’s capital through the issuance of new shares (consideration shares) to the Selling Shareholders of Al Raeda (the “Acquisition Transaction”)
Element List
Explanation
Introduction
With reference to the announcement of United Wire Factories Company (“Aslak”) published on the Saudi Exchange (Tadawul) website on... read more
Aslak opens new factory in Al Kharj
United Wire Factories Co. (Aslak) inaugurated its new factory in Al Kharj Industrial City, spanning 15,000 square meters.
In a... 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
United Wire Factories Company (ASLAK) Invites Its Shareholders To Attend the 14th Ordinary General Assembly Meeting (The First Meeting)
Element ListExplanation Introduction The Board of Directors of Union Wire Factories Company is pleased to invite... read more
United Wire Factories Co. Announces the Submission of the Decrease of the Company’s Capital Application File to CMA
Element ListExplanationIntroduction United Wire Factories Co announces the submission of the Application File to the CMA, on Wednesday... read more
Announcement Details United Wire Factories Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 174.1200.2-13.036187.2-6.997 Gross Profit (Loss) 14.617.3-15.60615.9-8.176 Operational Profit (Loss)... read more
