Riyadh – Mubasher: The extraordinary general meeting (EGM) of Seera Group Holding approved the board’s proposal to reduce the company's capital from SAR 3 billion to SAR 2.74 billion.
Following the 8.65% capital reduction, the number of the company's shares will be cut from 300 million shares to 274.04 million shares, according to a bourse filing.
The group will cancel 25.95 million ordinary shares from treasury shares, including 2.03 million ordinary shares from the total treasury shares allocated to the employee shares program.
Seera affirmed that the transaction will have no impact on the shares’ market value and will not result in any adjustment to the company’s share price.
