Arab Sea’s shareholders approve transfer of SAR 16.5M statutory reserve to retained earnings

31/12/2023 Argaam

Arab Sea’s shareholders approve transfer of SAR 16.5M statutory reserve to retained earnings

Logo of Arab Sea Information Systems Co.

Arab Sea Information Systems Co.’s shareholders agreed to transfer the statutory reserve, amounting to SAR 16.5 million, to retained earnings during the ordinary general meeting (OGM) held on Dec. 28.

 

This decision was taken in accordance with the financial statements for the year ended on Dec. 31, 2022, according to a statement to Tadawul.

 

The shareholders also approved the remaining items on the OGM’s agenda, the statement added.

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