The interim financial statements at June 30, 2017 from the company “Ateliers Mécaniques du Sahel”, show a net balance sheet total of 52,287 thousand dinars and a deficit of 6,458 thousand dinars.
In the report on these financial statements, the statutory auditors of the Loukil Group company, indicate that “the shareholders’ equity of the company” Les Ateliers Mécaniques du Sahel -AMS “amounts to -6 458,336 Dinars as of June 30, 2017, i.e. a loss of more than 50% of the capital.
Thus and pursuant to article 388 of the Commercial Companies Code, an Extraordinary General Meeting should be convened within four months of the recognition of the losses, in order to decide on the question of whether it is necessary to decide to dissolve the company or to reduce the capital by an amount equal to that of the losses or to increase the capital for an amount at least equal to that of the losses.
“In the current state of affairs and in light of the latest results posted, we believe that in the absence of rapid recovery actions, the situation of the company would be irreparably compromised with all the consequences that may result from it “.