Aseer to discuss statutory reserve reduction in May

08/04/2019 Argaam

Aseer Trading, Tourism & Manufacturing Co.’s shareholders will discuss on May 1 cutting the statutory reserve to 24.7 percent of capital, the company said in a statement to Tadawul.

 

Aseer will transfer a sum of SAR 94.11 million to offset the accumulated losses, the statement added.

 

Aseer’s accumulated losses stood at SAR 94.1 million as on December 31, 2018, accounting for 7.5 percent of capital amounting to SAR 1.3 billion, Argaam previously reported.

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