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Al Mazaya's EGM approves 8.5% capital cut

Al Mazaya's EGM approves 8.5% capital cut
The capital will be reduced to KWD 62.956 million
MAZAYA
MAZAYA
2.36% 99.70 2.30

Mubasher: The extraordinary general meeting (EGM) of Al Mazaya Holding has approved to decrease the capital at a nominal value of treasury shares, amounting to KWD 5.872 million, by 8.53%.

The capital will be reduced to KWD 62.956 million from KWD 68.828 million, according to a bourse filing on Monday.

Meanwhile, the EGM has agreed to cut the compulsory reserves by KWD 12.753 million to KWD 1.592 million.

It is noteworthy to mention that in 2020, the company reported an around 3% decline in net losses attributable to the parent company's shareholders to KWD 8.48 million, compared to KWD 8.77 million in 2019.