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Red Sea International Seeks Approval to Slash Losses with Share Premium Balance

MT Newswires·12/09/2025 11:43:28
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11:43 AM EST, 12/09/2025 (MT Newswires) -- Red Sea International (SASE:4230) added a new agenda item for its rescheduled extraordinary general assembly meeting, according to a Tuesday release. The modular engineering group is seeking approval for the board's recommendation to use all its 295.7 million-Saudi-riyal share premium balance to offset accumulated losses of 297.2 million riyals, reducing the losses to 0.30% of the capital. The meeting will take place Jan. 4, 2026, at 7 pm local time.