MEDGULF Eliminates Accumulated Losses Via Share Premium Offset
MEDGULF 8030.SA | 0.00 |
On July 12, 2026, the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) announced that its accumulated losses have been reduced to 0% of its share capital, effective June 29, 2026. This follows the Extraordinary General Assembly's approval to utilize a portion of the share premium amounting to SAR 224,974 thousand to fully offset accumulated losses of SAR 77,823 thousand as of March 31, 2026. The company completed all necessary regulatory procedures in accordance with applicable laws and regulations to achieve this elimination of accumulated losses.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96712&anCat=1&cs=8030&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/31814_487_2026-07-10_18-05-06_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.