Gulf Union Ahlia Cooperative Insurance Company announces the resolution of the Board of Directors of the company by circulation on 25/05/2021G corresponding to 13/10/1442H to recommend to the Ordinary General Assembly of the company to use the entire balance of the Share Premium amounting to (89,488,445 Saudi Riyals) to reduce part of the Accumulated Losses of the company. The Accumulated Losses of the company, after this transaction, will become 27,850,255 Saudi Riyals representing 12.14% of the capital.
Additional information :
The company will take the necessary procedures to present its recommendation to the company’s ordinary general assembly for a vote.
The company will also announce the latest developments, if any, in this regard as soon as they occur.
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