Riyadh – Mubasher: Saudi Fisheries Co (Al Asmak) said that it started to resolve its issues through a capital decrease and appointing financial advisor as per Article 150 of the Companies Law.

The capital decrease is subject to the approval of official bodies and general assembly; the company will announce any developments in due course, according to a bourse filing.

Saudi Arabian Monetary Agency (SAMA) directed all the Saudi-listed firms of which accumulated losses reached 50% or more to disclose their plans to resolve their issues in a period not to exceed 21 April.

Al Asmak's accumulated losses to December stood at SAR 376.2 million which accounts for 70.28% of the SAR 535.38 million capital.