Aslak approves transferring statutory reserve of SAR79.95M to retained earnings

30/04/2024 Argaam
Logo ofUnited Wire Factories Co. (Aslak)

Logo of United Wire Factories Co. (Aslak)

Shareholders of United Wire Factories Co. (Aslak) approved the board’s proposal to transfer the company’s entire statutory reserve of SAR 79.95 million as in financial statements for Dec. 31, 2023, to the retained earnings, according to a statement to Tadawul.

 

This came during the extraordinary general meeting (EGM) held on April 29.

 

They also approval authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2024, the statement added.

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