SISCO’s EGM approves transferring SAR 1.1 mln balance to statutory reserve

Saudi Industrial Services Co.’s (SISCO) general assembly approved on Wednesday transferring a balance of SAR 1.1 million as of Sept. 30, 2017 from conventional reserve to statutory reserve.

The assembly also approved amending the bylaws related to dividend distribution and board remuneration, SISCO said in a bourse statement.

In addition, shareholders approved updated rules for the board and its audit committee and remunerations and nominations committee.