GASCO postpones EGM to Feb 4

National Gas and Industrialization Co. (GASCO) has postponed its upcoming extraordinary general assembly meeting to February 4, from January 29, it said in a bourse statement.

Shareholders will vote on suspending transfer of 10 percent from the company’s net profit to statutory reserve, which currently stands at 36 percent of capital, as of the 2017 financial results, Argaam reported.

The general assembly will also vote on the SAR 1.4 cash dividend distributed for fiscal year 2017, at 14 percent of capital, totaling SAR 105 million.