Al-Baha fully offsets accumulated losses

24/12/2024 Argaam
Logo ofAl-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co. 

Al-Baha Investment and Development Co. announced in a statement to Tadawul that it reduced its accumulated losses to 0% of capital after a capital reduction.
 
 
The company reduced its capital to offset its accumulated losses by 100%. It also retained earnings of SAR 913,600 as per financial results on Dec. 19, 2024.
 

Shareholders approved, during the extraordinary general meeting held on Dec. 19, the board recommendation on a capital reduction by 26.5% from SAR 297 million to SAR 218.30 million. This aimed to offset SAR 78.71 million in accumulated losses that reached SAR 79.97 million as on June 30, 2024.

 

The table below highlights the changes in Al-Baha’s capital:

 

Amendments to Capital(SAR mln)

Date

Type of Issue

Capital

New Capital

Change

May 2017

Acquisition

150

295

96.7%

May 2017

Capital Reduction

295

177

(40.0%)

Feb. 2022

Rights Issue

177

297

67.8%

Dec. 2024

Capital Reduction

297

218.3

(26.5%)

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