Completion of the Share Capital Decrease of the Specialized Investment Compounds Co.
Date: 23/05/2016
On Monday May 23, 2016 the SDC completed the process of decreasing the share capital of (17,660,000) JOD/share, with a nearly 69 percent, of the Specialized Investment Compounds Company to redeem part of the retained losses as of December 31, 2014.
Thereby, the SDC record of the Specialized Investment Compounds Company indicates the decrease of its capital from (25,760,000) JOD/share to a registered capital of (8,100,000) JOD/share as a result of the mentioned share capital decrease.
The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on December 15, 2015, and upon the approval of the Ministry of Industry, Trade, and Supply on the Share Capital Decrease issued in May 17, 2016.