Saudi Vitrified Clay Pipes Co. Announces the Decrease of its Accumulated Losses to 10.35 % of the Capital

Thursday, 17 April 2025

 

Element ListExplanation
Introduction Referring to the SVCP announcement dated 09/05/1446 AH corresponding to 11/11/2024 AD regarding the preliminary consolidated financial results for the period ending 30/09/2024 (Nine Months), the company would like to announce the decrease of the accumulated losses from 62% of the capital as on 30/09/2024 to 10.35% of its current capital as on 11/11/2024 AD.
Date of accumulated losses decrease 2024-11-30 Corresponding to 1446-05-28
Amount of the Accumulated Losses -15,531,431
Percentage of the Accumulated Losses out of the Capital (%) 10.35 %
Measures Taken by the Company to Decrease Accumulated Losses transferring the statutory reserve balance of SAR (75,000,000) according to the General Assembly approval dated November 5 to transfer the value of the statutory reserve to extinguish the accumulated losses.
The external auditor’s report clarifying the financial position of the company

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