Naseej says accumulated losses fully reduced after capital cut

28/12/2020 Argaam

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Logo of Naseej International Trading Co.

Naseej International Trading Co.’s accumulated losses dropped to zero after shareholders agreed at the extraordinary general meeting (EGM) to cut capital, the company said in a bourse filing today, Dec. 28.

 

The EGM, which was held on Dec. 20.2020, approved reducing the company’s capital by 65.4% to SAR 61.63 million from SAR 178.16 million through writing off 11.65 million shares.

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