Al Rasheed EGM OKs transfer of SAR 13.7M to retained earnings

30/09/2024 Argaam

Al Rasheed EGM OKs transfer of SAR 13.7M to retained earnings

Logo of Mohammed Hadi Al Rasheed & Partners Co.

Mohammed Hadi Al Rasheed & Partners Co.'s shareholders approved the transfer of SAR 13.69 million in statutory reserve (as of Dec. 31, 2023) to the retained earnings balance amounting to SAR 76.5 million as of June 30, 2024, during an extraordinary general meeting (EGM) held on Sept. 29.

 

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Shareholders also elected board members for the upcoming four-year term ending on Oct. 6, 2028, according to a Tadawul filing today, Sept. 30.

 

The new board includes Bader M. Al Rasheed, Hamad M. Al Rasheed, Mohsen M. Al Rasheed, Faris Abdulrahman Al Faris and Abbas Ali Al Musaed.

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