Riyadh-Mubasher: Saudi Enaya Cooperative Insurance posted losses of SAR 3.46 million in August to total SAR 19.68 million in the first eight months of 2016, according to a bourse statement.
Accumulated losses reached SAR 221.71 million by the end of August, representing 55.43% of the company's capital totalling SAR 400 million.
Net losses stood at SAR 1.15 million in July, amounting to SAR 16.2 million in the first seven months of 2016.
The company’s extraordinary general meeting (EGM) will convene on 3 October to vote on the capital decrease by 50% from SAR 400 million to SAR 200 million, according to a bourse filing.
