Saudi Vitrified Clay Pipes Co. Announces an update on Saudi Vitrified Clay Pipes Co. Announces the Submission of the Decrease of the Company’s Capital Application File to CMA

Wednesday, 09 September 2026

 

Element ListExplanation
Introduction With reference to the Saudi Vitrified Clay Pipes Company (the "Company") announcement published on the Saudi Exchange website dated 07/03/1448H (corresponding to 20/08/2026G) regarding the submission of the Company’s capital reduction application to the Capital Market Authority (the "Authority"), the Company is pleased to announce that the Authority has issued its approval dated 25/03/1448H (corresponding to 07/09/2026G) on the Company’s capital reduction application, as detailed below.
Previous Announcement Saudi Vitrified Clay Pipes Co. Announces the Submission of the Decrease of the Company’s Capital Application File to CMA
Date of Previous Announcement on Saudi Exchange’s Website 2026-08-20 Corresponding to 1448-03-07
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event The Capital Market Authority issued on 25/03/1448H (corresponding to 07/09/2026G) its decision approving the Company's request to reduce its capital from SAR 150,000,000 to SAR 45,428,750 and consequently reduce the number of shares from 15,000,000 ordinary shares to 4,542,875 ordinary shares by cancelling 10,457,125 ordinary shares, representing a reduction of 69.714167%, in order to restructure the Company's capital by offsetting SAR 104,571,250 of the accumulated losses. The effective date of the capital reduction will be at the end of the second trading day following the Extraordinary General Assembly meeting at which the capital reduction is approved.

It should be noted that this approval is subject to obtaining the approval of the Extraordinary General Assembly on the Company's capital reduction and completing the relevant statutory procedures and requirements.
Reasons For The Delay on The Date of The Event Previously Announced Not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable
Delay consequences on the Company’s financial results Not applicable
Additional Information The Capital Market Authority has issued its approval of the Company's capital reduction application after the Company fulfilled all comments and requirements related to the capital reduction application.

The Company will publish the Shareholders Circular containing the proposed method of capital reduction and the expected effects of such reduction sufficiently in advance of the Extraordinary General Assembly meeting to enable shareholders to vote on the capital reduction resolution.

The Company will announce any material developments in this regard in due course in accordance with the relevant laws and regulations.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.