23 Hrs
Source:
الاقتصادية
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Al-Batal suggests moving 10M Riyals from issuance premium to cover losses
The Board of Directors of Batal Factory for Saudi Chemical Industries recommended transferring 10 million riyals from the share premium reserve to the accumulated losses account to offset part of its losses, which amount to 74.29% of its share capital. This move aims to address the losses and cope with structural changes in the equity. The board also proposed that the company continue its operations after its losses exceeded half of its share capital, based on expected performance improvements in 2026. These recommendations will be presented for approval at the upcoming extraordinary general assembly.
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