Aseer shareholders to vote on cutting statutory reserve to offset losses

12/09/2018 Argaam

Shareholders of Aseer Trading, Tourism Manufacturing Co. will vote on cutting statutory reserve by SAR 226.2 million to 32.1 percent of capital to offset accumulated losses in the general assembly meeting scheduled for Oct. 10.

 

They will also discuss continuing to halt profit transfer to the statutory reserve, the company said in a bourse statement on Wednesday.

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