Saudi Industrial Development Company "SIDC" announces the decrease of its accumulated losses to (0%) of its capital.
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement by the Saudi Industrial Development Company (SIDC) dated 12/10/1447H corresponding to 31/03/2026AD regarding the annual consolidated financial results for the period ended 31/12/2025AD (twelve months). The Company hereby announces the decrease in accumulated losses from 26.64% of its capital as of 30/09/2025AD, to (0%) of its capital as of 31/12/2025AD. |
| Date of accumulated losses decrease | 2025-12-31 Corresponding to 1447-07-11 |
| Amount of the Accumulated Losses | (Zero) SAR |
| Percentage of the Accumulated Losses out of the Capital (%) | 0 % |
| Measures Taken by the Company to Decrease Accumulated Losses | Correction of the accounting treatment relating to SIDC’s transfer during the financial year ended 31 December 2023AD of the balance of the fair value reserve of financial assets measured at fair value through other comprehensive income, related to its investment in Arabian Industrial Fibers Company (Ibn Rushd), amounting to SAR (132.9) million as at the date of transfer, to accumulated losses before derecognition of the related asset, this was corrected by reversing the accounting entry for the transfer recorded at the end of the financial year 2023AD and restoring the balance of the fair value reserve of financial assets through other comprehensive income within equity and completion of the procedures to increase the Company’s capital from SAR (135) million to SAR (300) million. |
| The external auditor’s report clarifying the financial position of the company |  |
| Attached Documents | |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.