| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to the company’s announcement on tadawl of the results of the extraordinary general assembly which was held on: 19/07/1443 AH corresponding to: 20/02/2022 AD, which includes the approval of reducing the capital from 400,000,000 riyals to 100,000,000 riyals to write off the accumulated losses , due to that, the accumulated losses reached around 39.9 million riyals (39.9% of the capital), accordingly the company’s board of directors decided to reduce the accumulated losses, amounting to 39.9 million riyals (39.9%) of the capital, by using part of the statutory reserve, and thus the balance of accumulated losses will be approximately 0%. |
Note that the company will announce an independent announcement about the decrease in accumulated losses according to the bylaws and regulations after the external auditor completes the necessary reports.
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