NCLE shareholders OK transferring SAR 48.8M reserve to retained earnings

07/07/2024 Argaam
National Company for Learning and Education (NCLE)headquarters

National Company for Learning and Education (NCLE) headquarters

National Company for Learning and Education’s (NCLE) shareholders approved transferring the statutory reserve of SAR 48.78 million, as shown in interim financial statements for the six-month period ended on Feb. 29, 2024, to retained earnings.

 

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The decision was made at the extraordinary general meeting (EGM) held on July 4, according to a statement to Tadawul.

 

Shareholders also approved amending Article (3) of the company’s bylaws related to the company’s objectives, the statement added.

 

Some of the following activities to be added include maintenance, operation and cleaning contracting, purchase, manage and operate educational and training institutes, selling school uniforms, school supplies and educational tools and management of electronic stores.

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