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Gulf General Cooperative Insurance Co. Announces the Decrease of its Accumulated Losses to 20.70 % of the Capital

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Introduction Gulf General Cooperative Insurance Co. Announces the Decrease of its Accumulated Losses from 42.13% to 20.70 % of the Capital
Date of accumulated losses decrease 2021-09-30 Corresponding to 1443-02-23
Amount of the Accumulated Losses 103505 Thousand SR.
Measures Taken by the Company to Decrease Accumulated Losses The reason for the decrease in the percentage of accumulated losses from the capital is due to the company raising its capital from 200 million riyals to 500 million riyals through offering rights issue, which led to a decrease in the percentage of accumulated losses from the capital from 42.13% on June 30, 2021 to 20.7% on September 30, 2021.
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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