National Gypsum EGM to vote on statutory reserve transfer to offset accumulated losses on Feb. 24

National Gypsum Co.’s shareholders will vote on the transfer of SAR 64.2 million from statutory reserve to offset the accumulated losses standing at the same amount as per the financial statements as of Sept. 30, 2025, during an extraordinary general meeting to be held on Feb. 24, 2026.

In a statement to Tadawul, the company said that shareholders will also vote on transferring an amount of SAR 30.77 million from the statutory reserve to the retained earnings account.

Additionally, they will discuss moving another SAR 3 from the statutory reserve to the paid-up capital so that the company’s capital becomes SAR 316.667 million, with a nominal value of SAR 10 per share and a total number of 31.667 million shares.

According to Argaam’s data, National Gypsum announced earlier not holding its EGM, which was scheduled to be held on Jan. 28.

In November 2025, the company announced that its accumulated loss amounted to SAR 64.23 million, or 20.28% of capital, by the end of the first nine months of 2025.