Alhokair Submits Capital Application Decrease File to CMA

Abdul Mohsen Al Hokair Group for Tourism and Development Company announced to shareholders that it submitted a request for approval to reduce the capital to the Capital Market Authority, on Thursday 08-09-2022 AD, indicating that the Board of Directors had recommended last August to the Extraordinary General Assembly to reduce the capital. The capital from 650,000,000 riyals to 350,000,000 riyals, with a reduction rate of 46.15%, in order to restructure the company’s capital to extinguish (98.79%) of the accumulated losses as on March 31, 2022 AD.

The company will announce any future developments in this regard in due course.