DOHA: Vodafone Qatar announces that trading in the company's shares will be suspended for one day on Thursday, 15 November, as per regulatory requirements, on account of its previously announced capital reduction that will take effect on the same day.
Trading in the shares will resume on Sunday, 18 November.
Vodafone Qatar obtained its shareholders approval at the Company's Extraordinary General Assembly on 19 March 2018, in addition to all requisite regulatory approvals, to proceed with the implementation of the capital reduction.
The capital reduction is essentially a balance sheet transaction effected by means of an accounting adjustment all within the "Total Equity" section. The share capital of the company will be reduced from QR8.45bn to QR4.2bn by way of reducing the nominal value of the shares of the company from QR 10 per share to QR5 per share.
The transaction has no impact whatsoever on the value or the number of the shares held by shareholders or on the cash position or financial liquidity of the company.
