Riyadh — Mubasher: Saudi Industrial Export Company (Sadirat) issued a follow-up disclosure outlining the regulatory timeline to address its financial position after accumulated losses reached 50.68% of its capital.
The company had previously reported this breach of the 50% threshold in its preliminary financial results published on 29 October 2026.
Under Article 132 of the Companies Law, the board of directors is required to disclose its recommendations regarding the losses within 60 days of becoming aware of the situation.
Sadirat confirmed the deadline for this disclosure is 28 December.
Furthermore, the company must convene an Extraordinary General Assembly (EGM) within 180 days to decide on the continuity and implement measures to treat the losses or consider dissolution.
The deadline to call for this assembly has been set for 27 April 2027. The listed firm stated that there is no immediate financial impact resulting from these procedural updates.
