Polaris Ltd. (SG:5BI) has released an update.
Polaris Ltd., a Singapore-based company, is proceeding with a capital reduction exercise to cancel S$398,256,000 in share capital, equivalent to its accumulated losses as of December 31, 2023. This move, subject to shareholder approval at an upcoming extraordinary general meeting, aims to address losses mainly from impaired investments and operational inefficiencies. The capital reduction will adjust the issued share capital, thereby tidying the company’s balance sheet.
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