Wajd Life EGM approves statutory reserve transfer to retained earnings

04/01/2026 Argaam- Nomu
Logo ofWajd Life Trading Co.

Logo of Wajd Life Trading Co.

Wajd Life Trading Co.’s shareholders approved, during the extraordinary general meeting (EGM) held on Jan. 1, the transfer of the entire balance of the statutory reserve, which stood at SAR 300,000 as of Dec. 31, 2024, to the retained earnings account, the company said in a statement on Tadawul.

 

The EGM also approved amendments to several articles of the company’s bylaws, including Article 2 on the company’s name, Article 6 on capital, Article 7 on share subscription, Article 10 on the sale of unpaid shares, and Article 11 on capital increases.

 

In addition, two new articles were added regarding the issuance of shares and the company’s ability to purchase, sell, and pledge its own shares.

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