Latest news with #EGM
Zawya
4 hours ago
- Business
- Zawya
Seera's board proposes capital cut to $720mln
Riyadh - The board of directors of Seera Group Holding has recommended an 8.65% capital cut to SAR 2.74 billion from SAR 3 billion, according to a bourse disclosure. The capital reduction will be executed through the cancellation of 25.95 million ordinary treasury shares, including 2.03 million shares allocated to the company's employee share program. Subject to the approvals of the Capital Market Authority (CMA) and the extraordinary general meeting (EGM), the transaction will be implemented at a cancellation rate of 8.65 per 100 shares of the company. It is worth highlighting that the capital reduction has no material impact on Seera's financial position, operations, or regulatory obligations. As of 31 March 2025, the net profits of Seera hit SAR 53 million, marking an annual drop of 13.11% from SAR 61 million.
Argaam
18 hours ago
- Business
- Argaam
SIIG deposits post-capital cut fractional shares proceeds
Saudi Industrial Investment Group (SIIG) deposited proceeds from selling fractional shares resulting from its recent capital reduction in the accounts of eligible shareholders. In a statement to Tadawul today, June 19, the company said the fractional shares sale ended on June 1. As many as 24,427 shares were sold at a total of SAR 371,576, at an average price of SAR 15.21 apiece. According to Argaam data, SIIG shareholders recently approved a 10% capital cut to SAR 6.79 billion from SAR 7.54 billion at an extraordinary general meeting (EGM), citing excess capital. Shareholders will be compensated for the cancelled shares through a cash distribution of SAR 754.8 million (SAR 10 apiece).
India.com
a day ago
- Business
- India.com
This company declares issue price for fundraise: Check price and other details
इंवेस्टमेंट से पहले रिस्क को जांच लें New Delhi: Kellton Tech Solutions, a promising small-cap IT company, has made a significant move by announcing its plan to raise funds through the issue and allotment of warrants. The company intends to issue and allot up to 55 lakh warrants, each convertible into one equity share with a face value of Rs 5. This strategic move is set to bolster the company's financial position and fuel its growth trajectory. Issue Price Of Warrant The company has fixed Rs 126 as the issue price of the warrant. This includes a premium of Rs 121 per premium. Meanwhile, Kellton Tech Solutions on June 18, 2025, through its release, has clarified that the issue price of the warrant is Rs 126. The company, in a display of transparency and commitment to accuracy, has promptly corrected the issue price of the warrant. The filing reads, 'The 'Issue Price / Allotted Price (in ₹)' mentioned therein should be read as ₹126/-. The previously stated figure was inadvertently included due to a typographical error and is to be disregarded for all purposes.' Stock Split The board of directors of Kellton Tech Solutions has proposed a stock split in the ratio of 1:5. This means that after the split, each fully paid-up equity share of the company, which currently has a face value of Rs 5, will be divided into five equity shares, each with a face value of Re 1. This move is expected to make the company's shares more affordable and attractive to a wider range of investors. The company, in a show of respect for its shareholders, has not fixed a record date for this corporate action without their approval. It said that the record date for this corporate action will be decided after obtaining approval of the shareholders. 'The record date for the purpose of the above sub-division/split of Equity Shares shall be decided after obtaining approval of the shareholders through EGM will be intimated in due course,' the filing reads. Stock Market Today On Thursday, the benchmark indices Sensex and Nifty experienced a decline in early trade. This was in line with the weak trends from global markets, which were influenced by the ongoing Iran-Israel conflict. The geopolitical tensions continue to weigh on investors' sentiment, leading to a cautious market environment. The 30-share BSE Sensex declined 253.62 points to 81,191.04 in early trade. The 50-share NSE Nifty dropped 73.95 points to 24,738.10.
Mint
a day ago
- Business
- Mint
Multibagger small-cap stock declares issue price for ₹69.30 crore fundraise via issuance of warrants
Stock Market Today: Multibagger small-cap stock declares issue price for ₹ 69.30 crore fundraise via issuance of warrants. Check details about Kellton Tech Solutions Limited Multibagger small-cap stock Kellton Tech Solutions, announcing the outcome of the board meeting on the exchanges on 18 June, gave the issue price details for the ₹ 69.30 crore fundraise via issuance of warrants. Kellton Tech Solutions, in its release on the National Stock Exchange of India and the BSE, or the Bombay Stock Exchange, said that the issue price for the ₹ 69.30 crore fundraise via issuance of warrants stood at ₹ 126. The board of directors of Kellton Tech Solutions on 11 June 2025 had considered and approved raising funds through the issue and allotment of up to 5,500,000 (fifty-five lakhs) warrants. The issued funds will be convertible into 1 (one) equity share of face value of ₹ 05/- (rupees five only) each. The approved raising of funds through the issue and allotment of warrants by Kellton Tech Solutions is to certain promoter and non-promoter investors on a preferential basis. The fundraising through warrants is at an issue price of ₹ 126/- (Rupees One Hundred Twenty-Six Only), including a premium of ₹ 121/- (Rupees One Hundred Twenty-One) per warrant, clarified Kellton Tech Solutions on 18 June 2025, through its release. The fundraiser will be aggregating up to maximum amount of ₹ 69,30,00,000/- (Rupees Sixty-Nine Crore Thirty Lakh only), subject to the approval of regulatory and statutory authorities and the Members of the Company at the ensuing Extraordinary General Meeting. Multibagger small-cap stock Kellton Tech Solutions Ltd. also announced the recommendation by its board for a stock split in the ratio of 1:5, following a board meeting held on June 14, 2025. The sub-division will split each fully paid-up equity share with a face value of ₹ 5 into 5 equity shares with a face value of ₹ 1. The same will be taken up at the AGM, and an ordinary resolution is to be passed at the upcoming Extraordinary General Meeting (EGM) to change the company's share capital by dividing each existing equity share with a face value of ₹ 5/- (Rupees Five only) each, fully paid-up, into 5 (Five) equity shares with a face value of ₹ 1/- (Rupee One only) each, fully paid-up, as has been considered, approved, and recommended to the shareholders.
Argaam
a day ago
- Business
- Argaam
TADCO shareholders reject amending bylaws
Tabuk Agricultural Development Co.'s (TADCO) shareholders rejected the proposed amendment to the company's bylaws during the extraordinary general meeting (EGM) held on June 18, according to a statement to Tadawul. The amendment aimed at aligning the articles with the new Companies Law and to restructure and renumber them accordingly. The attendance rate for the third EGM was based on the shareholders who attended in line with the company's articles of association.
