Kuwait-Mubasher: The Securities House has confirmed that its board intends to consider partial or full cancellation of treasury shares, as they are not comprehensively covered by existing reserves, according to a bourse statement.
A capital reduction would follow the cancellation, if decided, without affecting the shareholders’ equity, as would be shown in the audited financial statements for the period ended 31 December, 2015, which may also mark shareholders retaining the right to receive part of the capital at nominal value.
The Securities House’s stock settled at 30 fils on Thursday morning.
