| Element List | Explanation |
|---|---|
| Introduction | United Wire Factories Co.
would like to inform its valued shareholders of the CMA’s approval, issued on 09/05/2023, on the Company’s request to reduce its capital (that exceeds the Company’s need) by (20%) from SAR (351,000,000) to SAR (280,800,000), thus reducing the number of shares of the Company from (35,100,000) shares to (28,080,000) shares. The CMA’s approval is conditional on the Extraordinary General Assembly’s approval and the completion of the relevant legal procedures and requirements. The Company will publish the “Shareholders’ Circular” containing the proposed method of reducing the capital and the expected effects of that capital reduction, on time, before the Extraordinary General Assembly Meeting, so that the shareholders can vote on the resolution to reduce the capital of the Company |
| Date of Announcing the Application on Tadawul Website | 2023-04-06 Corresponding to 1444-09-15 |
| Date of Submitting the File | 2023-04-05 Corresponding to 1444-09-14 |
| Application Status at CMA | the CMA’s approval on the Capital Reduction request of the Company |
| Other Substantial Updates | No comments |
| Additional Information | No comments |
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EXPLANATION
Introduction
No English translation, kindly refer to the Arabic version
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