Wednesday, Jun 15, 2011
(This story was originally published Tuesday.)
DUBAI (Zawya Dow Jones)--Saudi Arabia's National Agricultural Marketing Co. (4160.SA), or Thimar, said Tuesday it was reducing its capital by a quarter, selling unused land and filing a lawsuit over "misleading" 2010 financial statements.
The fruit, vegetable and meat distributer said its capital would be reduced from 100 million Saudi riyals ($26.7 million) to SAR75 million, representing a drop in shares from 100,000 to 75,000, in a statement it posted on the website of the Saudi bourse.
The company added it was filing a lawsuit "against those responsible for misleading financial statements" for 2010, but didn't give any details.
Thimar shares closed down 1% Monday at SAR24.
-By Angus McDowall, Dow Jones Newswires; +971-4-446-1685, angus.mcdowall@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
15-06-11 0356GMT
