Dubai-Mubasher: SHUAA Capital said that its annual general meeting will be held on 16 March to discuss set-off AED 200.86 million of accumulated losses against the balance of the statutory reserves, according to a bourse filing on Tuesday.
The shareholders will also review the company’s balance sheet and income statement for the fiscal year ended 31 December 2015.
SHUAA posted net losses of AED 161.8 million ($44 million) for the fourth quarter of 2015, compared with AED 14.8 million ($4.03 million) in the same period of 2014.
The company recorded net losses of AED 190.3 in 2015, against earnings of AED 25.8 million a year earlier.
SHUAA’s stock declined 3.37% to AED 0.401 after trading 1.7 million shares, with turnover of AED 695,000.
