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Salama Cooperative Insurance Co. Announces the Decrease of its Accumulated Losses to 15.90 % of the Capital
| Element List | Explanation |
|---|---|
| Introduction | Salama cooperative insurance company announces the decrease of its accumulated losses to 15.90% of the capital. |
| Date of accumulated losses decrease | 2023-12-07 Corresponding to 1445-05-23 |
| Amount of the Accumulated Losses | The accumulated losses currently amount to (31,791) thousands Saudi riyals which represent 15.90% of the capital. |
| Measures Taken by the Company to Decrease Accumulated Losses | The reason for the decrease in accumulated losses are mainly due to the increase in the company's capital from SAR 100,000,000 to SAR 200,000,000. And the company represented by the Board of Directors and Executive Management continues to work on improving operational efficiency and optimizing costs to increase its profitability. We attached the auditor's report to the shareholders including the statement of financial position. |
| Auditor's Report showing the Financial Position of the Company after the Decrease of the Accumulated Losses |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 12.56
Net Change 0.04 (+0.32%)
Value Traded (Sar) 1,095,637.84
Volume Traded 87,517
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