The accumulated losses of Amiantit Saudi Arabia (SR 73,323,11), representing an estimated 22.91% of the capital according to the Legal Accountant report.
According to Arab Net, the company said in a statement that this came after the remaining use of the formal reserve and 132.18 million riyals.
She noted that the systematic reduction would not have an impact on cash accounts, and there would be no impact on the net shareholders' equity and commitments.
It was pointed out that this procedure outlines the company from the scope of application of article 150 and does not require the company to follow article procedures due to low losses to less than 50% of the capital.
