‎Keir recommends 72% capital cut to offset accumulated losses

‎<p><img src="https://argaamplus.s3.amazonaws.com/14ea6300-de5c-4e47-8fc0-88935903b231.png"></p> <p class="ckeCaption" >Logo of Keir International Co.</p> <hr> <p ><a data-auth="NotApplicable" data-linkindex="0" href="https://www.argaam.com/en/tadawul/nomu/keir" id="OWAf156a5f4-bd09-7f30-7fab-e2037819d564" originalsrc="https://www.argaam.com/en/tadawul/nomu/keir" rel="noopener noreferrer" target="_blank" title="Original URL: https://www.argaam.com/en/tadawul/nomu/keir. Click or tap if you trust this link.">Keir International </a><a data-auth="NotApplicable" data-linkindex="1" href="https://eur04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.argaam.com%2Fen%2Ftadawul%2Fnomu%2Fkeirdata=05%7C02%7Cpublish%40argaam.com%7C7c89b46667bb403e2acc08df16eb8b8b%7Caabd51e45209449f92007785987beded%7C0%7C0%7C639254873033799510%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7Csdata=wqihMmNsWcxGoxw7y17LWpfoAT25IIBy8flDj2qlFVE%3Dreserved=0" id="OWAf156a5f4-bd09-7f30-7fab-e2037819d564" originalsrc="https://www.argaam.com/en/tadawul/nomu/keir" rel="noopener noreferrer" target="_blank" title="Original URL: https://www.argaam.com/en/tadawul/nomu/keir. Click or tap if you trust this link.">Co.</a> said its board of directors recommended on Sept. 17, reducing the company’s capital by 72.018% through the cancellation of 86.42 million shares (0.7202 share for every one held), to offset accumulated losses.</p> <p ></p> <p ></p> <p ><strong>Capital reduction details</strong></p> <table border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td > <p ><strong>Current capital</strong></p> </td> <td > <p >SAR 120 mln</p> </td> </tr> <tr > <td > <p ><strong>Number of shares</strong></p> </td> <td > <p >120 mln</p> </td> </tr> <tr > <td > <p ><strong>Capital after reduction</strong></p> </td> <td > <p >SAR 33.58 mln</p> </td> </tr> <tr > <td > <p ><strong>Number of shares after reduction</strong></p> </td> <td > <p >33.58 mln</p> </td> </tr> <tr > <td > <p ><strong>Reduction percentage</strong></p> </td> <td > <p >72.018%</p> </td> </tr> <tr > <td > <p ><strong>Reason for reduction</strong></p> </td> <td > <p >Restructuring the company’s capital to offset SAR 86.42 mln of accumulated losses</p> </td> </tr> <tr > <td > <p ><strong>Reduction method</strong></p> </td> <td > <p ><span ><span >Cancellation of 86.42 mln shares </span></span><span ><span >(0.7202 share for every one held)</span></span></p> </td> </tr> <tr > <td > <p ><strong>Reduction date</strong></p> </td> <td > <p >End of the second trading day following the extraordinary general meeting (EGM) at which the capital reduction is approved</p> </td> </tr> </tbody> </table> <p></p> <p >In a statement on <strong>Tadawul</strong>, the company said the capital reduction would have no material impact on its liabilities, operations, financial, operational or regulatory performance.</p> <p ></p> <p >The capital reduction recommendation is subject to the approval of the relevant authorities and the company’s EGM, as well as the completion of all related regulatory procedures and requirements.</p> <p ></p> <p >It added that Estidamah Capital was appointed as financial adviser for the capital reduction, noting that an announcement will be made when the application for the capital reduction is submitted to the Capital Market Authority (<strong>CMA</strong>) for approval.</p> <p ></p> <p >The agreement with Estidamah Capital, in its capacity as financial adviser, covers advisory services and support related to the capital reduction, including evaluating the relevant options, procedures and regulatory requirements and providing the necessary recommendations in this regard.</p> <p ></p> <p >The company noted that the capital reduction and any related procedures remain subject to obtaining the necessary regulatory approvals, including the CMA and EGM.</p> <p ></p> <p >In late August, the company said its accumulated losses declined to SAR 86.4 million, representing 72% of the company’s capital, according to <span ><strong>Argaam </strong></span>data.</p> <p ></p> <p >The accumulated losses exceeded half of the company’s capital due to impairment provisions on customer accounts, higher operating costs, and delays in executing certain projects, which affected revenue.</p>

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Argaam - Main News · Trade Publication

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20th September 2026

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argaam.com

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