GASCO invites shareholders to general assembly meeting

The National Gas and Industrialization Co.’s (GASCO) invited shareholders to vote on suspending the routine transfer of 10 percent of annual net income to statutory reserve, after the reserve reached 36 percent of capital.

The general assembly meeting will be held on March 7, where shareholders will vote also on a SAR 1.4 cash dividend per share for 2017, which constitutes 14 percent of capital and a total consideration of SAR 105 million.

Shareholders will also vote on the remuneration policy, committees, and executive management, and other items, the company said in a stock market filing.