Red Sea International completes shares’ fractions sale resulting ‎from capital decrease

Red Sea International Company announces the completion of the sale of shares’ fractions resulting from the capital decrease according to the following:

– Date of the sale of fractional shares: 31-07-2022

– Number of shares sold: 63,497

– Proceeds from the sale of shares’ fractions: SAR 1,640,082.07

– Average selling price per share of shares sold: SAR 25.87

Red Sea International Company also announces that it was not able to distribute the proceeds from the sale of shares’ fractions to the eligible shareholders during the period mentioned in shareholders’ circular, which is set at thirty days from the date of Shareholders’ approval in the EGM of which the capital decrease as approved.

Additional Information:

The Company wishes to remind the respected shareholders to update their respective banking records which are linked to their investment portfolios to facilitate the transfer of the proceeds resulting from the sale of shares’ fractions.