Aqaseem Factory to transfer SAR 3.4M statutory reserve to retained earnings

28/05/2025 Argaam
Logo ofAqaseem Factory for Chemicals and Plastics Co.

Logo of Aqaseem Factory for Chemicals and Plastics Co.

Aqaseem Factory for Chemicals and Plastics Co.’s shareholders approved transferring the company’s statutory reserve of SAR 3.38 million to retained earnings during an extraordinary general meeting (EGM) on May 27.

 

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The statutory reserve is based on the annual financial statements for the year ended Dec. 31, 2024, Aqaseem Factory said in a statement to Tadawul.

 

Shareholders also approved contracts signed with Leader Express for Automotive Services, in which board members Mohammed Al Dossary and Faisal Al Zahrani hold indirect interests. The contracts, valued at SAR 5.74 million for 2024, do not include any preferential terms.

 

All other items on the meeting’s agenda were also approved, the statement added.

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