Riyadh – Mubasher: Keir International Company disclosed that its board of directors recommended a comprehensive strategic plan to address accumulated losses, which reached SAR 148.43 million as of 31 December 2025.
The mentioned amount represents 123.70% of the company's capital while exceeding the 50% threshold that triggers regulatory disclosure requirements under Article 132 of the Companies Law, according to a bourse filing.
The board’s recommendations include the transfer of the company's entire statutory reserve of SAR 13.57 million and its share premium balance of SAR 41.77 million to offset a portion of the losses.
Meanwhile, the transfers were previously approved by an extraordinary general assembly (EGM) on 26 March 2026.
Keir International noted that the impact will be reflected in the financial statements for the period ended on 30 June 2026.
Furthermore, the board has authorized management to begin procedures for appointing a licensed financial advisor to study capital restructuring options.
Potential measures include a capital reduction to extinguish remaining losses, followed by a subsequent capital increase.
The board also recommended to the EGM that the company continue its operations.
Keir International stated that the financial impact of these measures cannot be determined at this stage.
