The United Cooperative Insurance Group (ACIG) announced the reduction of its accumulated losses to zero percent of the capital.
According to Arabiyanet, the company indicated in a statement to its previous announcement on 27 August of the results of the extraordinary general assembly meeting, which included approval of reducing the company's capital. / p>
The recommendation issued by the company’s board of directors included reducing the capital by 29.5% from 200 million riyals to 141 million riyals by canceling 5.9 million shares to extinguish the accumulated losses.
(Amazon fun knowledge)
