BAAN to use share premium to offset SAR 263.6M accumulated losses

Logo of BAAN Holding Group Co.

BAAN Holding Group Co. shareholders approved the transfer of SAR 263.64 million from the share premium account resulting from the company's capital increase to the accumulated losses account.

Shareholders also authorized the board of directors to complete the related regulatory and accounting procedures, BAAN said in a statement to Tadawul.

They further ratified all other items on the meeting’s agenda, including lease agreements with Abdul Mohsen Al Hokair Holding Group, which were concluded without preferential terms or benefits. The value of these transactions amounted to nearly SAR 43.66 million in 2025.

Shareholders also approved service agreements with Al Hokair Holding, also concluded without preferential terms or benefits, with transactions totaling SAR 3.67 million in 2025.

They authorized the board of directors to exercise the powers of the ordinary general assembly regarding transactions and contracts entered into on behalf of the company in which a board member has a direct or indirect interest.

The authorization is valid for one year from the date of the extraordinary general meeting or until the end of the current board term, whichever comes first.

Shareholders also authorized the board to practice hospitality and hotel operation business, under the same terms.

The company previously said its accumulated losses stood at SAR 263.6 million at the end of March, representing 83.7% of its capital, Argaam data showed.