Riyadh - Mubasher: Savola Group announced depositing Almarai Company shares in the investment portfolios of eligible shareholders, which represents compensation for the cancellation of shares as a result of the capital reduction and the material deal on December 19, 2024.

The company explained in a statement today, Thursday, on “Tadawul” that the distribution ratio amounted to 0.3044 for each Savola share owned by eligible shareholders on December 12, 2024 (before the capital reduction).

She added that it will collect the fractional shares of Savola resulting from the reduction of Savola’s capital and the fractional shares of Savola in Almarai resulting from the in-kind distribution of Savola’s share in Almarai in one portfolio so that they will be sold in the financial market at the prevailing market price, after which the proceeds from the sale will be distributed to the eligible shareholders according to their ownership within (30) days from the date of the approval of the Extraordinary General Assembly to reduce the company’s capital and the substantial transaction.

During the Extraordinary General Assembly meeting held on Thursday, December 12, Savola Group shareholders approved the Board of Directors’ recommendation to reduce the company’s capital and compensate the company’s shareholders entitled to the capital reduction by 73.54%.

The company explained that the capital will be reduced from 11.34 billion riyals to 3 billion riyals, by cancelling 833.98 million ordinary shares, equivalent to approximately 73.54% of Savola’s capital.