AICTEC EGM OKs transfer of SAR 2.5M statutory reserve to retained earnings

18/05/2025 Argaam
Logo ofAdvance International Co. for Communication and Information Technology (AICTEC)

Logo of Advance International Co. for Communication and Information Technology (AICTEC)

Shareholders of Advance International Co. for Communication and Information Technology (AICTEC) approved the board’s recommendation to transfer the statutory reserve balance of SAR 2.5 million, as per financial statements for the period ended Dec. 31, 2024, to the retained earnings, according to a statement to Tadawul.

 

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They further authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2025, during the extraordinary general meeting (EGM), held on May 15, the statement added.

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