Mubasher: The ordinary general meeting (OGM) of Specialities Group Holding approved not to distribute cash dividends for fiscal year 2017.
Specialities Group agreed to offset the accumulated losses until 31 December 2017 at a total value of KWD 2.98 million, according to a bourse statement on Wednesday.
The accumulated losses will be offset from the issue premium of KWD 15.6 million, following this procedure, a total of KWD 12.62 million will be in the premium account.
In FY17, Specialities Group incurred a loss of KWD 3.003 million compared to KWD 3 million in the previous fiscal year.
At the stock level, Specialities Group closed Wednesday’s session 2.6% lower at 52.5 fils.
