Tadweeer scraps transfer of SAR 67.8M issue premium to retained earnings

27/11/2024 Argaam
Logo ofNational Environmental Recycling Co. (Tadweeer)

Logo of National Environmental Recycling Co. (Tadweeer)

National Environmental Recycling Co.’s (Tadweeer) board of directors scrapped its recommendation to transfer the issuance premium of SAR 67.8 million to the retained earnings account.

 

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The decision came given the changes in the new Companies' Law and its regulations, specifically Articles No. 106 and No. 45/B, with regard to listed shareholding companies, Tadweeer said in a statement to Tadawul today, Nov. 27.

 

The company’s board of directors decided, on Nov. 19, to transfer the issuance premium of SAR 67.84 million, as per the audited financial statements for 2023, to the retained earnings account, data available to Argaam showed.

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