United Wire Factories Co. Announces the Start of the Creditors' Objection Period Related to the Company’s Capital Reduction (that exceeds the Company's need)

Element List	Explanation
Announcement Detail	With regards to the announcement of United Wire Factories Co. on Thursday on 04/09/1444 AH corresponding 11/03/2022 published on the Tadawul website regarding the Board’s Recommendation to Decrease the Company’s Capital from SAR (351,000,000) to SAR (280,800,000) SAR, and as referring to the announcement of United Wire Factories Co. on Wednesday 10/05/2023 published on the Tadawul website which included the announces of the CMA’s approval on the Capital Reduction request of the Company on Tuesday 05/09/2023. For this reason, United Wire Factories Co. has announced the start of the (Creditors’ Objection Period) in accordance with the provisions of Article (135) of the Companies Law. Accordingly, any creditor of United Wire Factories Co. has the right to object to the reduction process during the Objection Period by sending a registered Riyadh – Second Industrial City – Al-Kharj Road (P.O. Box 355208 – Riyadh 11383). The (Creditors’ Objection Period) will start from Thursday on 10/28/1444 AH corresponding to 05/18/2023 AD for a period of forty-five (45) days ending at the Saturday of 12/13/1444 AH corresponding to 07/01/2023 AD. The process of reducing the capital is subject to the approval of the company’s extraordinary general assembly, which is scheduled to be held after the end of the creditors’ objection period referred to above. For more details about the capital reduction process, please read the (Shareholders’ Circular) issued by United Wire Factories Co.

Element List

Explanation

Announcement Detail

With regards to the announcement of United Wire Factories Co. on Thursday on 04/09/1444 AH corresponding 11/03/2022 published on the Tadawul website regarding the Board’s Recommendation to Decrease the Company’s Capital from SAR (351,000,000) to SAR (280,800,000) SAR, and as referring to the announcement of United Wire Factories Co. on Wednesday 10/05/2023 published on the Tadawul website which included the announces of the CMA’s approval on the Capital Reduction request of the Company on Tuesday 05/09/2023.

For this reason, United Wire Factories Co. has announced the start of the (Creditors’ Objection Period) in accordance with the provisions of Article (135) of the Companies Law.

Accordingly, any creditor of United Wire Factories Co.

has the right to object to the reduction process during the Objection Period by sending a registered Riyadh – Second Industrial City – Al-Kharj Road (P.O. Box 355208 – Riyadh 11383).

The (Creditors’ Objection Period) will start from Thursday on 10/28/1444 AH corresponding to 05/18/2023 AD for a period of forty-five (45) days ending at the Saturday of 12/13/1444 AH corresponding to 07/01/2023 AD.

The process of reducing the capital is subject to the approval of the company’s extraordinary general assembly, which is scheduled to be held after the end of the creditors’ objection period referred to above.

For more details about the capital reduction process, please read the (Shareholders’ Circular) issued by United Wire Factories Co.

United Wire Factories Co. Announces the Start of the Creditors’ Objection Period Related to the Company’s Capital Reduction (that exceeds the Company’s need)

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