Mubasher: Gulf Investment House (GIH) will hold its extraordinary general meeting (EGM) on Wednesday, 5 December, to consider offsetting part of the accumulated losses as registered on 31 December 2017.
GIH will offset the losses through nearly KWD 343,090 of the legal reserve, according to a bourse disclosure on Monday.
The shareholders will also consider reducing the capital by KWD 10.33 million to KWD 6.1 million from KWD 16.42 million; following this process, GIH will discuss raising the capital to KWD 40.65 million through an amount of KWD 34.55 million from creditors.
GIH’s issued and paid-up capital stands at KWD 16.42 million, distributed on 164.2 million shares at a par value of 100 fils each.
