Advanced to transfer SAR 481.9M from statutory reserve to retained earnings

31/03/2024 Argaam

Advanced to transfer SAR 481.9M from statutory reserve to retained earnings

Advanced Petrochemical Co.’s shareholders approved the transfer of SAR 481.9 million statutory reserve to the retained earnings account, during an extraordinary general meeting (EGM) held on March 28.

 

This reserve balance is reflected in the financial statements for the fiscal year concluded on Dec. 31, 2023, the company said in a statement to Tadawul.

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