“GBSCO” announces the extinguishment of all accumulated losses through the statutory reserve
The National Gypsum Company (GBSCO) announced today, Sunday, the extinguishment of all accumulated losses through the use of the statutory reserve, confirming that the accumulated losses have decreased to 0% of the company’s capital.
The reason for the decrease in the accumulated losses is due to the results of the extraordinary general assembly meeting (third meeting), which was held on Tuesday, February 26, 2026, and the approval of the clause of transferring an amount of (64,234,323 riyals) from the statutory reserve as shown in the financial statements. To extinguish the accumulated losses amounting to (64,234,323 riyals) as in the financial statements ending on September 30, 2025.
The settlement of losses also goes back to approving the clause of transferring an amount of (30,765,675 riyals) from the statutory reserve as in the financial statements ending on 09/30/2025 to the retained earnings account.
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