Riyadh – Mubasher: The board of Tourism Enterprise Company (Shams) has recommended a capital decrease, according to a bourse statement released on Wednesday.
If approved, the recommendation will see the company’s capital decline to SAR 80.69 million from SAR 101.5 million to underwrite SAR 20.8 million accumulated loss.
Shams may increase its capital to SAR 161.39 million afterwards to fulfil the company’s liquidity needs.
The capital decrease will have no impact on operational, financial, or organisational performance, the Tadawul-listed company said.
