On August 11, 2026, Amana Cooperative Insurance Co. announced its Board of Directors' recommendation to the Extraordinary General Assembly of Shareholders to decrease the company's capital by 30%, from SAR 430,000,000 to SAR 301,000,000, following a board meeting held on August 10, 2026. The capital reduction of SAR 129,000,000 will be achieved by lowering the nominal value of each ordinary share from SAR 10 to SAR 7, while the total number of shares remains unchanged at 43,000,000. The purpose of the reduction is to restructure the company's capital and offset accumulated losses of SAR 129,000,000. The recommendation remains subject to approval from the Capital Market Authority (CMA), other relevant authorities, and the Extraordinary General Assembly of Shareholders, with a financial advisor appointment and CMA application to be announced at a later stage.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.