Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)
National Metal Manufacturing and Casting Co.’s (Maadaniyah) shareholders approved transferring SAR 27.17 million of the statutory reserve balance to write off a part of the company's accumulated losses of SAR 96.89 million (27.37% of capital), as of Dec. 31, 2023.
The approval took place during the extraordinary general meeting held on June 10, according to a Tadawul statement.
Shareholders also gave the green light for other agenda items, including the disbursement of SAR 1.2 million as remuneration to board members for 2023.
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