SARCO shareholders OK transfer of SAR 31.7M statutory reserve to retained earnings

08:54 AM (Mecca time) Argaam
Logo ofSaudi Arabia Refineries Co. (SARCO)

Logo of Saudi Arabia Refineries Co. (SARCO)

Shareholders of Saudi Arabia Refineries Co. (SARCO) approved the board’s recommendation to transfer the entire statutory reserve balance of SAR 31.69 million, as of Dec. 31, 2024, to retained earnings.

 

The decision was taken during the extraordinary general meeting (EGM) held on Oct. 26.

 

In a statement on Tadawul, the company said shareholders also approved amending Article 4 of the company’s bylaws related to corporate objectives.

 

The meeting further approved disbursing SAR 1.74 million in annual remuneration for board members for the fiscal year ended Dec. 31, 2024.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.