Riyadh — Mubasher: Saudi Vitrified Clay Pipes Company has invited its shareholders to an extraordinary general meeting (EGM) scheduled for 22 October 2026 to vote on a significant restructuring of its capital base.
The primary agenda item is a proposed capital reduction of 69.71% to address accumulated losses.
Under the proposal, the capital will be slashed from SAR 150 million to SAR 45.42 million. The reduction will be executed by canceling 10.45 million shares, effectively canceling 0.69 shares for every one share held by investors.
This move is intended to extinguish SAR 104.57 million in accumulated losses, which reached SAR 104.57 million as of 30 June 2026. Following the reduction, the remaining accumulated losses will stand at SAR 9.
The company stated that the capital decrease will have no impact on its financial obligations, operations, or overall performance.
If approved, the reduction will apply to shareholders registered at the end of the second trading day following the meeting.
The meeting will be held at the company’s headquarters in Riyadh and via modern technology through the Tadawulaty platform.
