Naseej Tech EGM OKs SAR 10.6M statutory reserve transfer to retained earnings

Naseej Tech EGM OKs SAR 10.6M statutory reserve transfer to retained earnings

Logo of Naseej for Technology Co. (Naseej Tech)

Naseej for Technology Co.'s (Naseej Tech) shareholders approved the board of directors' recommendation to withhold cash dividends for 2023 at an extraordinary general meeting (EGM) held on May 13, according to a statement to Tadawul.

 

Shareholders also approved the transfer of the statutory reserve balance of SAR 10.6 million as on Dec. 31, 2023 to retained earnings, the statement added.

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