‎SPIMACO shareholders to vote on transferring SAR 185 mln from reserve to amortize accumulated losses on Nov. 14

‎SPIMACO shareholders to vote on transferring SAR 185 mln from reserve to amortize accumulated losses on Nov. 14

Logo ofSaudi Pharmaceutical Industries Medical Appliances Corp. (SPIMACO)

Saudi Pharmaceutical Industries Medical Appliances Corp. (SPIMACO) shareholders will vote on the transfer of SAR 34.71 million from the consensual reserve balance and SAR 150 million from the general reserve balance to amortize the company’s entire accumulated losses of SAR 124.36 million, which represent 10.36% of capital, as in the financial statements for the period ending on March 31, 2023, during an extraordinary general assembly meeting, scheduled to be held on Nov. 14, the company said in a statement to Tadawul.