Al-Battal urges to clear 10M riyal losses
Al-Batal Chemical Industries Company announced a plan to address its accumulated losses, which amount to 74.29% of its capital. The plan includes improving financial performance, securing insurance recoveries, and restructuring equity. The company proposed transferring 10 million riyals from share premium to the accumulated losses account in order to reduce the loss ratio. It also requested the approval of the Extraordinary General Assembly to continue its operations despite losses exceeding half of its capital, based on indicators showing an expected performance improvement in 2026. Its actions depend on shareholder approval at the upcoming meeting and involve measures to enhance financial sustainability and protect shareholders' interests.
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