Mayar shareholders to discuss statutory reserve transfer to retained earnings on July 30

09/07/2023 Argaam

Mayar shareholders to discuss statutory reserve transfer to retained earnings on July 30

Logo of Mayar Holding Co.

Mayar Holding Co.’s shareholders will discuss the board’s proposal to transfer the statutory reserve of SAR 1.58 million, as stated in 2022 financials, to retained earnings, during the extraordinary general meeting (EGM), scheduled for July 30, the company said in a statement to Tadawul. 

 

They will also vote to stop retaining any additional amounts in the statutory reserve, starting from the financial statements for the period ending on Dec. 31, 2023. 

 

They will discuss withholding dividends for 2022. 

 

In addition, they will vote on authorizing the board of directors to distribute interim profits on a semi-annual or quarterly basis for 2023 (in case an item related to amending the company’s articles of association is approved). 

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