‎Zamil Industrial shareholders approve using statutory reserve to offset accumulated losses

‎Zamil Industrial shareholders approve using statutory reserve to offset accumulated losses

Logo of Zamil Industrial Investment Co.

Shareholders of Zamil Industrial Investment Co. approved during an extraordinary general meeting (EGM) held on Sept. 28, a proposal by the board of directors to use a portion of its SAR 180 million statutory reserves to offset the company’s accumulated losses.

According to a statement to Tadawul, Zamil Industrial’s accumulated losses amounted to SAR 169.25 million, representing 28.2% of the capital as of the fiscal year ended on June 30, 2023.