Disclosure of capital reduction of Dlala Brokerage and Investment Holding Company
DLALA Brokerage and Investment Holding announces completion of obtaining all the necessary approvals to implement the process of reducing the company capital, as per the resolution of the Extra Ordinary General Meeting (EGM) dated 27/04/2022 to reduce the capital of the company from QR 284,160,000 with percentage 33% that amounted QR 93,772,800 equal to 93,772,800 shares to be QR 190,387,200 equal to 190,387,200 shares on Sunday 23/10/2022.
The trading will be temporary suspended on Dlala’s share for one session on Thursday 20/10/2022 and will be resumed on Sunday 23/10/2022 with the new capital.
It’s worth noting that the formula for capital reduction shall be used as followed by Qatar Stock Exchange and other regulatory authorities.
- Shareholder owns 1000 shares as on the end of Wednesday 19/10/2022 with closing price QR 1.5.
- The shareholder will have as on the beginning of Sunday 23/10/2022 = 1000 -33%= 670 shares.
- The reference price on the beginning of Sunday 23/10/2022 will calculated as follows=
- (No. of shares before reduction x closing price) / No. of shares after reduction
- (284,160,000 x 1.5) / 190,387,200 = QR 2.24
Therefore the total price of shares owned by the shareholders before reduction will be as the same total reference price on the beginning of the trading session after the reduction.
Attached the Pro forma financial information before and after capital reduction