Kuwait – Mubasher: Metal and Recycling will hold its postponed extraordinary general meeting (EGM) on 2 August to discuss offsetting the accumulated losses.

The company’s accumulated losses stood at KWD 6.6 million as on 31 December, 2015; the losses acquire 75% of the capital paid-up in the issue premium, according to a bourse statement issued on Tuesday.

The EGM will consider decreasing the issue premium to KWD 5.09 million from KWD 11.69 million.

Metal and Recycling stock was last traded on 20 July when it closed at 62 fils.