Hail Cement shareholders approve transfer of SAR 58.4 mln statutory reserve to retained earnings

01/08/2023 Argaam

Hail Cement shareholders approve transfer of SAR 58.4 mln statutory reserve to retained earnings

Hail Cement plant

Hail Cement Co.’s shareholders approved transferring the balance of statutory reserve of SAR 58.35 million, as of Dec. 31, 2022, to the retained earnings account during the extraordinary general meeting (EGM) held on July 31. 

 

They also ratified amendments to several of the company’s bylaws, the cement producer said in a statement to Tadawul.

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