Raydan Losses Exceed 66% of Capital
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Fourth: Reducing operational expenses by unifying warehouses, slaughterhouses and the central kitchen.
Fifth: Geographical expansion in areas not currently covered through subsistence contracts,in addition to opening branches there to enhance presence.
Sixth: Restructuring the commercial franchise and geographical expansion, especially outside the Kingdom.
She said that the procedures and instructions for companies whose shares are listed on the Saudi Stock Exchange and whose accumulated losses amount to 20% or more of their capital will be applied.
The Board of Directors recommended initiating the required procedures and adhering to the relevant rules and regulations regarding companies whose losses exceeded 50% of the capital in terms of disclosure and preserving shareholders’ rights and interests.
The company stated that the last date for the Board of Directors to call for an extraordinary general assembly to consider the continuation of the company is November 10, 2025, noting that those mentioned dates are specified in accordance with the provisions of Article 132 of the Companies Law, which stipulates that “if the losses of a joint-stock company amount to half of the issued capital, the Board of Directors must disclose that and the recommendations it has reached regarding those losses within (60) days from the date it learns that they have reached this amount, and invite the extraordinary general assembly to meet within (180) days.” From the date of knowledge of this, to consider the continuation of the company while taking any necessary measures to address or resolve those losses.”
The company stated that it has taken the following steps:
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