The Capital Market Authority Approved Arabia Insurance Cooperative Company Request to Reduce its Capital

Tuesday, May 03, 2016 at 8:12 AM

2016-05-03 (1437-07-26) 08:12:08

The CMA has issued its resolution approving Arabia Insurance Cooperative Company request to reduce its capital from SAR (400,000,000) to SAR (265,000,000), thus reducing the number of shares from (40,000,000) shares to (26,500,000) shares. This approval is conditional on the Company extraordinary general assembly approval and completion of the necessary procedures in relation to the applicable regulations.