Saudi Arabia’s Etihad Atheeb Telecommunication (Go) on Wednesday said its accumulated losses reached SAR 243.94 million, representing 51.63% of its capital.
Go ascribed the losses to a decline in operating and other revenues, it said in a statement to the Saudi Stock Exchange (Tadawul).
Go will invite shareholders for an extraordinary general meeting (EGM) on Tuesday, 26 March to discuss offsetting losses. Shareholders are required to meet by a maximum date of 25 April to tackle the matter.
In February, Go said it would not be able to announce its financial statements for the first nine months of 2018 within the deadline.