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Al-Kathiri advises capital reduction to cover losses
Al Kalthani Holding Company has decided to revise its recommendation regarding a capital reduction to 91.46%, aimed at offsetting accumulated losses of 103.37 million riyals from its total losses recorded up to June 2026. The capital will decrease from 113.022 million riyals to 9.65 million riyals through the cancellation of 206.745 million shares. It is noted that this procedure will not impact the company's liabilities or operational activities. Subsequently, the board recommended increasing the capital by 150 million riyals through a rights issue to fund operational plans and settle sukuk, subject to approval from the relevant authorities and the extraordinary general assembly. The reduction and increase in capital will be implemented following the approval of the assembly and will be announced later.
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