Keir International Co. announced the board of directors’ recommendations to address accumulated losses after reaching 95.37% of capital
Keir International Co. announced today, Feb. 29, the board of directors’ recommendations to address accumulated losses after reaching 95.37% of capital, according to a statement to Tadawul. 
The board proposed the transfer of the statutory reserve balance amounting to SAR 13.57 million, as of Dec. 31, 2024, to the accumulated losses account.
It also called for the transfer of the full balance of the share premium, amounting to SAR 41.77 million, as of Dec., 31 2024, to the accumulated losses account.
Meanwhile, the board recommended to the Extraordinary General Assembly (EGM) the approval of the company’s continuation, in light of the improvement in its performance during 2025.
The company will take the necessary procedures to present these recommendations to the upcoming EGM for voting, subject to shareholders’ approval, the statement added.
Keir will also announce any material developments in this regard as they occur and noted that it is in the process of completing the regulatory requirements related to the items of the EGM, and it will announce the invitation to the EGM once such requirements are completed.
According to data available on Argaam, Keit accumulated losses reached SAR 114.4 million as of Dec. 31, 2024, representing 95.37% of capital.
The losses are mainly due to the recording of non-cash losses, represented by provisions that were recorded for the years 2022, 2023 and 2024 and retroactively on balances opened before 2022.
Keir International Co. announced the board of directors’ recommendations to address accumulated losses after reaching 95.37% of capital
Keir International Co. announced today, Feb. 29, the board of directors’ recommendations to address accumulated losses after reaching 95.37% of capital, according to a statement to Tadawul.
The board proposed the transfer of the statutory reserve balance amounting to SAR 13.57 million, as of Dec. 31, 2024, to the accumulated losses account.
It also called for the transfer of the full balance of the share premium, amounting to SAR 41.77 million, as of Dec., 31 2024, to the accumulated losses account.
Meanwhile, the board recommended to the Extraordinary General Assembly (EGM) the approval of the company’s continuation, in light of the improvement in its performance during 2025.
The company will take the necessary procedures to present these recommendations to the upcoming EGM for voting, subject to shareholders’ approval, the statement added.
Keir will also announce any material developments in this regard as they occur and noted that it is in the process of completing the regulatory requirements related to the items of the EGM, and it will announce the invitation to the EGM once such requirements are completed.
According to data available on Argaam, Keit accumulated losses reached SAR 114.4 million as of Dec. 31, 2024, representing 95.37% of capital.
The losses are mainly due to the recording of non-cash losses, represented by provisions that were recorded for the years 2022, 2023 and 2024 and retroactively on balances opened before 2022.
