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Zamil Industrial Investment Company announced to its shareholders that the accumulated losses amounting to 169.2 million riyals decreased by 28.2% as of June 30, 2023, to become 33.1 million riyals, or 5.53% as of September 30, 2023, from a capital of 600 million. SAR
The company said that the measures taken by the company to reduce its accumulated losses include using the statutory reserve amounting to 180 million riyals, to extinguish part of the company’s accumulated losses, which represent 28.2% of the capital, in accordance with the decision of the extraordinary general assembly of the company’s shareholders on September 28, 2023 AD. .
This comes with reference to the company’s announcement on November 12, 2023, of the preliminary financial results for the period ending on September 30, 2023 (nine months).