‎Gulf General issues shareholders’ circular on capital reduction

19659001 Gulf General problems investors’ circular on capital decrease 19659002 Logo design of Gulf General Cooperative Insurance Co. 19659003 Gulf General Cooperative Insurance Co. provided the investors ‘circular with regard to the 40% capital cut to SAR 300 million. 19659004 The business stated that board members verified, based upon their understanding and viewpoint, that decreasing capital remains in the interest of the business and investors. It included that the qualified chartered accounting professional’s research study exposed that there will be no effect of the capital decrease on the business’s commitments. Information of Capital Reduction Present Capital 19659008 SAR 500 mln Existing Number of Shares 50 mln Capital Decrease% 19659012 40% 19659013 New Capital SAR 300 mln New Number of Shares 30 mln Factor Restructuring capital to amortize SAR 200 19659020 mln built up 19659021 losses 19659023 19659024 Technique 19659025 Canceling 20 mln 19659028 19659029 shares at 0.4-for-1 share 19659033 Date of Reduction 19659034 By the end of the 2nd trading day afte r the EGM approval on the relocation Learn more