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Abdulmohsen Alhokair Group for Tourism and Development Announces the Decrease of its Accumulated Losses to 34.90 % of the Capital
| Element List | Explanation |
|---|---|
| Introduction | In reference to the company’s announcement of the financial statements for the first quarter of 2024 for Abdul Mohsen Al Hokair Group for Tourism and Development, the company would like to announce to its esteemed shareholders the decrease in accumulated losses from 36.20% to 34.90% of the company’s current capital, which amounts to 315 million riyals as of 31/03/2024. |
| Date of accumulated losses decrease | 2024-03-31 Corresponding to 1445-09-21 |
| Amount of the Accumulated Losses | 109,941,283 SR |
| Percentage of the Accumulated Losses out of the Capital (%) | 34.90 % |
| Measures Taken by the Company to Decrease Accumulated Losses | 1. Re-evaluate the work of the Group’s sources of income and contribute to raising its efficiency and effectiveness. 2. Continue to restructure the company’s sectors to improve effectiveness and efficiency in operational and administrative aspects. 3. Continue to evaluate the Group’s projects and exit from poorly performing projects that generate operational losses. |
| The external auditor’s report clarifying the financial position of the company |  |
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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