“Red Sea”: Recommendation to allocate the share issuance premium to extinguish the accumulated losses
Recommended by the board of directors of the company "Red Sea International" The Ordinary General Assembly may use the entire balance of the new share issuance premium resulting from raising the company’s capital, amounting to 295.69 million riyals, to extinguish the accumulated losses.
The company said in a statement on "Saudi Arabia trading"Today, Sunday, if the company’s shareholders agree to extinguish the remaining accumulated losses by using the entire balance of the issue premium, it is expected that the percentage of accumulated losses will become less than 1% of the company’s capital (this is based on the company’s financial position as of September 30, 2025). Riyals.
The company will take the necessary measures to present the recommendation to the company’s ordinary general assembly to vote on it. It will also announce the latest developments in this regard as soon as they occur.
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