Tasnee shareholders OK transfer of SAR 905.3M to retained earnings

21/04/2024 Argaam
Logo ofNational Industrialization Co. (Tasnee)

Logo of National Industrialization Co. (Tasnee) 

Shareholders of National Industrialization Co. (Tasnee) approved transferring SAR 905.3 million from its statutory reserve, as per the financial statements for the period ended Dec. 31, 2023, to retained earnings at the extraordinary general meeting (EGM) held on April 18.

 

In a statement to Tadawul, the company said that shareholders also approved the amendments to its Article of Association in compliance with the new Companies Law.

 

Meanwhile, they ratified the payment of SAR 3.5 million as remuneration to the board members for 2023.

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