Saudi Fisheries shareholders reject SAR 335m capital hike

SFICO
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Riyadh — Mubasher: Saudi Fisheries Company announced that its extraordinary general meeting (EGM), held on 27 September 2026, did not approve the board’s recommendation to increase the company’s capital by SAR 334.93 million.

The proposed 500% increase was intended to raise capital from SAR 66.99 million to SAR 401.92 million through the issuance of 33.49 million ordinary rights shares.

The capital hike was designed to enable the company to execute strategic plans and support future activities.

Despite receiving 72.36% of votes in favor, the resolution failed to pass the required threshold at the meeting, which saw an attendance rate of 25.12%.

Opposing votes accounted for 26.77%, while 0.87% abstained.

During the same session, shareholders approved the election of a new board of directors for a three-year term beginning 25 October 2026 and ending 24 October 2029.

The elected members include Abdulaziz Abdullah Al Humaid, Abdulmajeed Abdulmohsen Al Sheikh, Mansour Abdulaziz Al Sagheer, Mohammed Abdulaziz Al Razzouq, and Rayan Mohammed Al Mansour. This agenda item received 88.04% of the cast votes.

Source: Mubasher Source: {{details.article.source}}