‎Thimar accumulated losses reach 54.82% of capital

‎Thimar accumulated losses reach 54.82% of capital

Thimar Development Holding Co.’s accumulated losses reached 54.82% of the capital reaching SAR 100 million, as per the audited financial statements for the fiscal year ended on Dec. 31, 2019.

Procedures and instructions applicable on companies listed in the Saudi Exchange (Tadawul) whose accumulated losses reach 20% or more out of the capital thereof will be applied, according to a bourse statement.

Thimar has recently posted its financial statements for 2019 and 2020.

In March, the Ninth Circuit of the Commercial Court in Riyadh accepted the company’s financial reorganization proposal, according to data available with Argaam.