Alhokair Group announces its accumulated losses have decreased to 0% of capital

The Alhokair Group for Tourism and Development Company announced on Thursday the reduction of the company’s capital to SR315,000,000 by absorbing the accumulated losses in the amount of SR335,000,000 based on the approval of the Extraordinary Assembly held on 10/6/2022.
This comes with reference to the recommendation of the Board of Directors issued on 30 August 2022 regarding reducing the company’s capital by 51.54% and based on the approval of the company’s shareholders during the Extraordinary General Assembly on 06 October 2022.