Raydan EGM to vote on transferring SAR 27.4 mln reserve to retained account on Oct. 10

A Raydan Food branch

Raydan Food Co. will hold an extraordinary general meeting (EGM) on Oct. 10, to vote on the transfer of the company's statutory reserve balance of SAR 27.41 million, as in financial statements for 2022, to the retained earnings account. 

Shareholders will also vote on distributing SAR 1.2 million bonus to the current board members for 2022, according to a statement to Tadawul. 

In addition, they will discuss the distribution of SAR 747,000 in bonus to members of the current sub-board committees for the same year. 

During June EGM, shareholders did not discharge the board from liability for 2022, according to data available with Argaam. 

They also disapproved distributing SAR 1.9 million in bonus to members of the board and sub-committees for the same fiscal year.