Saudi’s Thimar Board Recommends Capital Cut by Half to Write Off Losses
By Mourad Haroutunian -
2011-12-10T07:45:32Z
National Agriculture Marketing Co., known as Thimar (THIMAR), said its board recommended the company’s capital be cut by half to 50 million riyals ($13 million) to write off losses, according to a statement to the Saudi bourse today.
The Riyadh-based company will hold an extraordinary shareholding meeting in January to vote on the proposal after getting regulatory approval, it said.
To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net
To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net
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