Saudi Fisheries accumulated losses exceeds 50% of its capital

Saudi Fisheries Company said that its accumulated losses reached SAR 268.5 million representing 50.15% of its capital.

Based on Capital Market Authority (CMA) instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, the Company will do the following:

1. Publish its monthly unaudited financial statements within the 10 days following the end of each month.
2. Publish immediately any amendments to its financial situation regarding the reduction of its accumulated losses beyond 50% of its capital.

According to data available on “Argaam”, Saudi Fisheries Company reported a net loss of SAR 10.6 million for Q3 2014.