Tharwah EGM Oks transfer of statutory reserve to retained earnings

08:42 AM (Mecca time) Argaam
Logo ofAltharwah Albashariyyah Co.

Logo of Altharwah Albashariyyah Co.

Altharwah Albashariyyah Co.’s shareholders approved the transfer of the statutory reserve balance of SAR 150,000 as of Dec. 31, 2023, to the retained earnings account, which stood at SAR 16.55 million as of June 30, 2024, according to a Tadawul statement.

 

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The decision was endorsed during the extraordinary general meeting (EGM) held on Nov. 26.

 

The EGM also decided to delete Article 9 of the company's bylaws related to the shareholders' register and add Article 9 to the company's bylaws related to the transfer of shares.

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