Fesh Fash EGM OKs halting 10% profit allocation to statutory reserve

Logo of Fesh Fash Snack Food Production Co.

Fesh Fash Snack Food Production Co.’s shareholders approved halting the 10% appropriation from net profits previously allocated to set up the company’s statutory reserve, according to a Tadawul statement.

They also endorsed the board’s recommendation on March 23, 2025 to transfer the entire statutory reserve of SAR 1.43 million, as of Dec. 31, 2024, to retained earnings.

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Shareholders further approved discharging the board members from liability for 2024.

All remaining items on the agenda were also approved, the statement added.