Al Aman Investment board proposes 24% capital cut

Mubasher: The board members of Al Aman Investment have recommended shrinking capital by 23.7% to KWD 15 million from KWD 19.65 million, according to a bourse statement on Thursday.

The capital decrease will be executed through cancelling 16.48 million existing treasury shares at a total value of around KWD 849,820 as well as cancelling the par value of KWD 1.65 million.

A reduction in cash will be executed on Al Aman’s capital by KWD 3 million through cancelling 30 million shares, the statement added.

Following this capital reduction, Al Aman’s shareholders’ equity rights will be trimmed by KWD 3 million.

At the stock level, Al Aman closed Thursday’s session 3.6% higher at 52 fils.

Mubasher Contribution Time: 15-Feb-2018 14:06 (GMT)
Mubasher Last Update Time: 15-Feb-2018 14:13 (GMT)

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