GulfBase Live Support
Leave a message and our representative will contact you soon
13/04/2016 09:45 AST
Saudi Enaya Cooperative Insurance Company announces that the Board of Directors at its meeting on 05-07-1437H corresponding to 12-04-2016G has recommended to reduce the Company's capital as follows:
1-The Company's capital before the capital reduction is SAR 400,000,000 divided into 40,000,000 shares. The share capital will reach 200,000,000 Saudi riyals divided into 20,000,000 shares, after the capital reduction.
2-The Reduction percentage will represent 50% of the Company's capital, and will be through the reduction of 1 share for every 2 shares.
3- Purpose of Capital Reduction: To restructure the capital position of the Company in line with the forthcoming Companies Law.
4-The capital reduction method: Write-off of 20,000,000 Company's shares.
5-The impact of the capital reduction on the Company's obligations: There is no effect of reducing the capital of the Company on its financial obligations.
The company's capital reduction is conditional upon approval of the official authorities and the extraordinary general meeting that will convened in due course.
In case the shareholders of the Company approved during the extraordinary general Assembly meeting the capital reduction, the decision will be binding on all the Company's shareholders registered in the Company's register in the Assets Services and Depository Tadawul as at the close of trading on the day of the extraordinary general Assembly meeting, including shareholders who did not attend the meeting as well as the shareholders who attended the meeting and did not vote or voted against the capital reduction decision.
Moreover, the shareholding percentage of each shareholder in the company will not change because of the capital reduction. Also, the total value of the shareholders investment in the company will not change because of the capital reduction transaction alone. All fractional shares that will result from the capital reduction will be sold, and the proceeds will be distributed to the eligible shareholders of the company.
Tadawul
05/07/2017
Saudi Enaya, a leading provider of health insurance products and services in the kingdom, said it has joined hands with Shariyah Review Bureau, a global Sharia Advisory firm with an attractive client
Trade Arabia
14/01/2014
Saudi Enaya Cooperate Insurance Company (Enaya) would like to announce that it has assigned a Premium Deficiency Reserve of SR 3.5 Mil. This reserve is based on the independent actuary study dated Tu
Tadawul
18/04/2013
Saudi Enaya Cooperative Insurance Company - Enaya announces its interim financial results for the three month period ended 31/03/2013, as detailed below:
1. Net loss, before Zakat and inco
Tadawul
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News