| 30 سبتمبر 2026 | زيادة رأس المال (اكتتاب) | بعد الاكتتاب | |
|---|---|---|---|
| Share capital | 1,100,000 | 2,900,000 | 4,000,000 |
| Treasury shares | (13) | - | (13) |
| Treasury shares reserve | 13 | - | 13 |
| Fair value reserve | (184,214) | - | (184,214) |
| Foreign currency translation reserve | (72,553) | - | (72,553) |
| Accumulated losses | (2,272,978) | - | (2,272,978) |
| Total equity (deficit) | (1,429,745) | 2,900,000 | 1,470,255 |
Al Masaken International Real Estate Development Co. announced that the subscription for its capital increase is complete. Accumulated losses shown in its interim condensed consolidated financial information as at 30 September 2026 now equal 56.82% of the capital after the increase, which stands at KD 4,000,000. The company said the effect will appear in its annual consolidated financial statements as at 31 December 2026.
According to the auditor's report dated 1 November 2026, the company's extraordinary general assembly met on 14 July 2026 and approved writing off part of the accumulated losses by restructuring capital under a going-concern plan.
Under the plan, authorised, issued and paid-up capital was cut from KD 10,000,000 to KD 1,100,000, a reduction of KD 8,900,000, by cancelling 89,000,000 shares with a nominal value of 100 fils each. This included cancelling the entire balance of 1,662,985 treasury shares, with a total nominal value of KD 166,298. The aim was to write off part of accumulated losses of KD 11,166,125, as shown in the audited financial statements for the year ended 31 December 2025.
The write-off used KD 71,611 in gains from cancelling the treasury shares and the full statutory reserve balance of KD 94,687, alongside a capital reduction of KD 8,733,702 after settlement. Accumulated losses after the reduction stood at KD 2,266,125.
The assembly then approved raising capital from KD 1,100,000 to KD 4,000,000 through a cash increase of KD 2,900,000. The company issued 29,000,000 shares at a nominal value of 100 fils each, with no issue premium. Shareholders registered in the company's records on the record date had the subscription right, and new shareholders could take part after the legal period ended.
The capital reduction was entered in commercial register no. 44733 on 4 August 2026, and the increase on 25 August 2026. At its meeting on 1 October 2026, the board approved calling the subscription for the new shares and adopted its timetable. The full KD 2,900,000 value of the offered shares was deposited in the subscription account, and this was entered in the commercial register on 28 October 2026.
As a result, total equity moved from a deficit of KD 1,429,745 at 30 September 2026 to KD 1,470,255 after the subscription. It is made up of share capital of KD 4,000,000, treasury shares of KD (13), a treasury shares reserve of KD 13, a fair value reserve of KD (184,214), a foreign currency translation reserve of KD (72,553) and accumulated losses of KD (2,272,978).
The auditor's report was signed by Faisal Saqr Al-Saqr, licensed auditor no. 172, of BDO Al-Nisf & Partners.
