UCA announces a decrease in its accumulated losses to 3.35% of the capital

UCA announces a decrease in its accumulated losses to 3.35% of the capital

UCA announces a decrease in its accumulated losses of 20% of its share capital as its accumulated losses amounted to SR 13.42 million or 3.35% of the company’s capital of SR 400 million as of 10/06/2018.

The main reason for the decrease in accumulated losses is the reduction of the Company’s capital from SR 490 million to SR 400 to extinguish SR 90 million of accumulated losses as approved by the Extraordinary General Assembly at its meeting held on 07/06/2018.