SIDC shareholders approve transferring SAR 8.1 mln to offset accumulated losses
15/06/2020
Argaam
Saudi Industrial Development Co.’s (SIDC) shareholders approved the recommendation of the board of directors to transfer a surplus of SAR 8.1 million from the statutory reserves to offset accumulated losses, during the ordinary general assembly meeting held on June 14.
Shareholders also approved all other items on the meeting’s agenda, the company said in a statement to Tadawul.
In April, SIDC’s board of directors recommended the use of statutory reserve balance of SAR 8.1 million to offset part of the company’s accumulated losses which reached SAR 25.85 million as of December 31, 2019.
Related News
| SIDC shareholders to vote on using SAR 8.1 mln statutory reserve to offset losses on June 14 |
| SIDC board recommends using SAR 8.1 mln statutory reserve to offset losses |
Market Indices
TASI
10,542.23
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(0.45 %)
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SIDC
15.17
0.07
0.46%
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