Shams accumulated losses decrease to 1% of capital

13/12/2021 Argaam

Logo of Shams


Tourism Enterprise Co. (Shams) announced a decrease in accumulated losses to SAR 569,814, equivalent to 1% of the company's capital.

 

The company said in a bourse statement that the decrease in losses came after reducing the company's capital from SAR 101.5 million to SAR 52.6 million, based on the approval of the extraordinary general assembly held on Dec. 9.

 

According to data compiled by Argaam, the company’s shareholders approved the board of directors’ recommendation to reduce the company's capital to SAR 52.57 million, or 48.21%, in order to offset the accumulated losses of SAR 48.93 million.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.