Mayar board recommends amortizing SAR 16.8M loss for business continuity

Logo of Mayar Holding Co.

Mayar Holding Co. said that, with regards to its accumulated losses reaching 69.2 % of capital as announced on January 15, its board of directors recommended to the extraordinary general assembly to approve the company’s continuation through amortizing part of its accumulated losses based on the unconditional waiver submitted by major shareholder Taya Holding Co., of the payable balances due from Mayar as of 11 March 2026, amounting to SAR 16.8 million.

In a statement to Tadawul, the company said it will take the necessary actions to present the recommendation related to its continuation to the upcoming EGM for voting, in accordance with the above.

It will also complete the regulatory requirements for convening EGM after obtaining the necessary approvals.

Mayar also aid it will announce any further developments in this regard in due course.

In a separate statement, Mayar said it received a letter from major shareholder Taya Holding, which owns 83.14% of the company’s capital, confirming the unconditional waiver of part of its payable balances owed by Mayar as of 11 March 2026, amounting to SAR 16.8 million, in support of Mayar and to reduce its accumulated losses.

According to Argaam’s data, Mayar accumulated in January that its losses reached SAR 41.53 million, or 69.2% of its SAR 60 million capital, based on unaudited internal financial results as of Dec. 31, 2025.

Excluding the amount waived by Taya, the total accumulated losses will reach SAR 24.7 million, or 41.2% of capital.