Cairo -  The extraordinary general meeting (EGM) of Maridive & Oil Services approved to reduce the authorised capital to $940.51 million, according to a bourse disclosure on Tuesday.

The company will decrease the capital by 5.94% from $1 billion.

In the first half (H1) of 2021, Maridive incurred consolidated net losses worth $32.28 million, down by 34% from $48.62 million in H1-20, including minority shareholders' rights.

During the January-June 2021 period, the company’s revenues stood at $67.19 million, lower than $122.70 million during the same period a year earlier.

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