Fitaihi Announces the End of the Creditors' Objection Period Related to the Company’s Capital Reduction and the Enforcement of the Capital Reduction Resolution

Fitaihi Announces the End of the Creditors’ Objection Period Related to the Company’s Capital Reduction and the Enforcement of the Capital Reduction Resolution

By Investor Relations Uncategorized

ELEMENT LIST	EXPLANATION
Announcement Detail	Concerning the announcement of Fitaihi Holding Group, published on Thursday, 8 July 2021, on the Tadawul website regarding the results of the Extraordinary General Assembly Meeting of Fitaihi Holding Group, which included the approval on the capital reduction of the Company, and the start of the Creditors’ Objection Period, as per the provisions of Article No. (145) of the Companies Law, Fitaihi Holding Group announces the following: – The end of the Creditors’ Objection Period at the end of Sunday, 5 September 2021, while Fitaihi Holding Group didn’t receive any objection from any creditor during that period. – The enforcement of the resolution to reduce the capital of Fitaihi Holding Group, and accordingly, the capital of the Company will be reduced by (50%) from (550,000,000) SAR to (275,000,000) SAR, and from (55,000,000) shares to (27,500,000) shares, through canceling (27,500,000) ordinary shares from the Company’s shares, the nominal value of each is (10) SAR, and with a total value of (275,000,000) SAR, and compensating the eligible shareholders for this with the PAR value of (10) SAR per each canceled share in favor of the shareholders of Fitaihi Holding Group owning the shares at the end of trading of Sunday, 5 September 2021, and who are registered in the Company’s records at the Depository Center at the end of the second trading day following the end of the Creditors’ Objection Period. For updates on the next steps to enforce the capital reduction resolution, please follow the upcoming announcements of Fitaihi Holding Group in this regard.

ELEMENT LIST

EXPLANATION

Announcement Detail

Concerning the announcement of Fitaihi Holding Group, published on Thursday, 8 July 2021, on the Tadawul website regarding the results of the Extraordinary General Assembly Meeting of Fitaihi Holding Group, which included the approval on the capital reduction of the Company, and the start of the Creditors’ Objection Period, as per the provisions of Article No. (145) of the Companies Law, Fitaihi Holding Group announces the following:

– The end of the Creditors’ Objection Period at the end of Sunday, 5 September 2021, while Fitaihi Holding Group didn’t receive any objection from any creditor during that period.

– The enforcement of the resolution to reduce the capital of Fitaihi Holding Group, and accordingly, the capital of the Company will be reduced by (50%) from (550,000,000) SAR to (275,000,000) SAR, and from (55,000,000) shares to (27,500,000) shares, through canceling (27,500,000) ordinary shares from the Company’s shares, the nominal value of each is (10) SAR, and with a total value of (275,000,000) SAR, and compensating the eligible shareholders for this with the PAR value of (10) SAR per each canceled share in favor of the shareholders of Fitaihi Holding Group owning the shares at the end of trading of Sunday, 5 September 2021, and who are registered in the Company’s records at the Depository Center at the end of the second trading day following the end of the Creditors’ Objection Period.

For updates on the next steps to enforce the capital reduction resolution, please follow the upcoming announcements of Fitaihi Holding Group in this regard.

8001166661

sh@fitaihi.com.sa

Fitaihi Announces the End of the Creditors’ Objection Period Related to the Company’s Capital Reduction and the Enforcement of the Capital Reduction Resolution

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