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Raydan Food Co. Announces its accumulated loses reaching 48.06 % of its capital

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Introduction Raydan Food Company announces that its accumulated losses as on March 31, 2022, according to the quarterly financial statements, amounted to 48.06%, amounting to 162,218,396 SR. from the company’s capital, which amounted to 337,500,000 SR.
Date of Realization of the Loss 2022-03-31 Corresponding to 1443-08-28
Amount of the Accumulated Losses 162,218,396
Percentage of the Accumulated Losses out of the Capital (%) 48.06 %
Major Reasons Leading to the Losses • Operational losses and net loss.

• Losses of disposal of property, plant and equipment

• A decrease in the value of assets for sale

• A decline in the value of right-of-use assets

• Decrease in the value of real estate, plant and equipment

• The company's share of the associate's losses

• Losses from discontinued operations of the subsidiary company

Measures to be Taken by the Company in Regard to Such Losses • Reducing the operating losses of the branches, especially after assessing the decline

• Improving performance and increasing activity revenues and franchise revenues.

• Reducing the cost of sales to reach a gross profit

• Reducing capital losses and studying the expansion plan

Application of the Procedures and Instructions Procedures and Instructions Applicable on Companies Listed in Saudi Capital Market Whose Accumulated Losses Reach 20% or more out of the Capital Thereof will be Applied

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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