Thob Al Aseel EGM OKs SAR 77.3M reserve transfer to retained earnings

Logo of Thob Al Aseel Co.

Thob Al Aseel Co.'s shareholders approved transferring the statutory reserve of SAR 77.32 million as of Dec. 31, 2023, to the retained earnings account during the extraordinary general meeting (EGM) on June 27.

 

They also authorized the board of directors to distribute interim dividends to shareholders semi-annually or quarterly for 2024, the company said in a statement on Tadawul.

 

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Additionally, shareholders elected the following board members for the three-year term starting Sept. 4, 2024: Faisal Aljedaie, Abdulrahman Aljedaie, Raid Al-Hoqail, Ibrahim Al-Muhanna, and Abdullah Aljedaie.

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