22-05-2025
Fesh Fash EGM OKs halting 10% profit allocation to statutory reserve
Fesh Fash Snack Food Production Co. 's shareholders approved halting the 10% appropriation from net profits previously allocated to set up the company's statutory reserve, according to a Tadawul statement.
They also endorsed the board's March 23, 2025, recommendation to transfer the entire statutory reserve of SAR 1.43 million, as of Dec. 31, 2024, to retained earnings.
Shareholders further approved discharging the board members from liability for 2024.
All remaining items on the agenda were also approved, the statement added.
