In reference to CMA’s Board resolution dated 2/1/1435H corresponding to 5/11/2013 to approve Astra Food Company’s initial public offering of (11,000,000) shares representing (40%) of the Company’s share capital, the company proposed a request to CMA to cancel its initial public offering dated 17/1/1435H corresponding to 20/11/2013 due to some developments in the company’s operations environment that led to the company and its financial adviser’s inability to confirm the validity of the estimates and expectations of the company's future especially in the coming 12 to 18 months. This also limits the ability of the company and its financial advisors to support the proposed evaluation of the company.

 

CMA’s Board has issued a decision to approve the company's request referred to above.