Al Yamamah Steel shareholders nod to retained profit transfer; elect new board

08/06/2023 Argaam

Al Yamamah Steel shareholders OK transfer to retained profit, elects board members

Logo of Al Yamamah Steel Industries Co.

Al Yamamah Steel Industries Co.’s shareholders approved transferring SAR 60 million from the statutory reserve as of March 31, 2023, to the retained earnings account, according to a statement to Tadawul.   

 

The nod was given at the extraordinary general meeting (EGM) held on June 7.    

 

Shareholders also endorsed electing board members for the upcoming three-year term, starting June 26, 2023. The elected members are Saad Almoijel, Raed Al-Mudaiheem, Mouhanna Al Mouhanna, Khalid Al Shami, Abdulhamid Alohali, Adnan Almansour and Abdulrahman Albalawi. 

 

They also ratified the formation of an audit committee for the same term. The new members are  Abdulrahman Albalawi, Mater Al-Anzi and Abdullah Al-Muhanna. 

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