The capital cut will be through the cancellation of 15 million shares in order to offset SAR 150 million of accumulated losses, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
It is worth noting that the recommendation is subject to the approval of the company’s next extraordinary general assembly meeting (EGM).
Enaya turned to losses during the third quarter (Q3) of 2019, reporting net losses of SAR 32.86 million, versus a profit of SAR 3.7 million in the corresponding period a year earlier.
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