Mubasher: Asiya Capital Investments Co will hold its board meeting on Wednesday, 4 October, to discuss reducing its capital to KWD 66.02 million from KWD 80 million.
This capital reduction is considered to offset the company’s accumulated losses which are worth KWD 13.98 million or 17% of the current capital, according to a bourse statement issued on Sunday.
Offsetting Asiya’s losses will be through cancelling 139.81 million shares.
The board members will also consider buying treasury shares of 10% or less of the total issued shares at the market value, the statement noted.
