GASCO approves moving SAR 20 mln from statutory reserve to retained earnings

03/06/2018 Argaam

 

National Gas & Industrialization Co.’s (GASCO) general assembly approved transferring SAR 20.36 million from statutory deposit to retained earnings account, the company said in a bourse statement.

 

They also approved audited financial statements and audit report for the fiscal year that ended Dec. 31, 2017.

 

Shareholders also approved the board report for the same period and discharged board members from liabilities during FY 2017.

 

They also approved all other items on the agenda, including appointing an external auditor and board remuneration for FY 2017.

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