National Gypsum to use SAR 64.2M reserve to offset accumulated losses

National Gypsum also to transfer SAR 30.8 million from statutory reserve to retained earnings

National Gypsum Co.’s shareholders approved, during an extraordinary general meeting (EGM) held on Feb. 25, to transfer SAR 62.4 million statutory reserve in order to offset accumulated losses as of Sept. 30, 2025.

In a statement to Tadawul, the company said shareholders also approved transferring SAR 30.8 million from the statutory reserve, as of Sept. 30, 2025, to the retained earnings.

Meanwhile, shareholders ratified the transfer of SAR 3 from the statutory reserve, as of Sept. 30, 2025 to the paid-up capital, bringing the company’s capital to SAR 316.67 million, with a nominal value of SAR 10 per share and a total of 31.67 million shares.

The EGM also approved all other items on the meeting’s agenda, the statement added.