Al-Khodari briefs shareholders on its financial restructuring plan

Abdullah A. M. Al-Khodari Sons Company held on Sept. 9 a presentation on the company’s financial restructuring procedure (FRP), it said in a bourse statement.

Shareholders were briefed on the FRP, according to Saudi bankruptcy law, and its impact on the company, as well as the future steps and the expected participation from the shareholders.

The discussions that took place during the presentation shouldn’t be considered as investment decisions nor a company recommendation, the statement said.

Al-Khodari’s deputy chairman, CEO, representatives of the financial advisor and the legal advisor, and a court-appointed trustee attended the presentation.

On July 1, Dammam commercial court issued a ruling on initiating the company's financial restructuring under Saudi Arabia’s new bankruptcy law, Argaam previously reported