Saudi Steel Pipe shareholders to vote on offsetting losses Sept. 5

Saudi Steel Pipe Co.’s (SSP) shareholders will vote on offsetting accumulated losses as of June 30, 2018 by transferring SAR 87.5 million from a share premium account in the general assembly meeting to be held on Sept. 5, the company said in a bourse statement on Tuesday.

Shareholders will also discuss a board’s recommendation on appointing Khalid Al-Nassar as an executive director, in place of late Khalid Al-Rabiah, effective May 22, 2018.