TAQAT board recommends transfer of statutory reserve to accumulated losses

04/12/2024 Argaam
Logo ofTAQAT Mineral Trading Co.

Logo of TAQAT Mineral Trading Co. 

TAQAT Mineral Trading Co.’s board of directors recommended today, Dec. 4, to the extraordinary general meeting (EGM) to transferring the company’s statutory reserve balance of SAR 1.41 million as of H1 ended June 30, 2024, to the accumulated losses balance, according to a statement to Tadawul.

 

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The company debuted on the Nomu-Parallel Market on March 28, 2024, data available to Argaam showed.

 

TAQAT’s accumulated loses reached nearly SAR 18 million, or 14.8% of its SAR 122 million capital, by the end of H1 2024.

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