Wafrah for Industry & Development Co. (Wafrah) said in a bourse statement on Thursday that its extraordinary general meeting (EGM) slated for April 1, 2020, was not held due to the lack of quorum.

 

The company will invite shareholders for another general meeting after obtaining the relevant approvals, the statement added.

 

In March, Wafrah invited its shareholders to vote on a 61.4% capital cut to SAR 77.17 million from SAR 200 million in order to offset accumulative losses worth SAR 122.83 million.

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