Sulaiman Al Habib EGM approves transferring SAR 1.05B statutory reserve to retained earnings

15/05/2024 Argaam

Sulaiman Al Habib EGM approves transferring SAR 1.05B statutory reserve to retained earnings

One of Dr. Sulaiman Al Habib Medical Services Group hospitals

Shareholders of Dr. Sulaiman Al Habib Medical Services Group (HMG) approved transferring the company’s statutory reserve of SAR 1.05 billion as on Dec. 31, 2023 to retained earnings.

 

The approval took place during an extraordinary general meeting (EGM) held on May 14, according to a statement to Tadawul.

 

Shareholders also approved authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2024, the statement said.

 

They also gave the go-ahead for amending the company's bylaws in accordance with the new Companies Law, as well as rearranging the bylaws' articles to reflect the proposed changes.

 

Further, shareholders approved distributing SAR 1.48 million as a remuneration to board members for 2023, the statement added.

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