Latest news with #retainedearnings
Argaam
7 days ago
- Automotive
- Argaam
Aqaseem Factory to transfer SAR 3.4M statutory reserve to retained earnings
Aqaseem Factory for Chemicals and Plastics Co. 's shareholders approved transferring the company's statutory reserve of SAR 3.38 million to retained earnings during an extraordinary general meeting (EGM) on May 27. The statutory reserve is based on the annual financial statements for the year ended Dec. 31, 2024, Aqaseem Factory said in a statement to Tadawul. Shareholders also approved contracts signed with Leader Express for Automotive Services, in which board members Mohammed Al Dossary and Faisal Al Zahrani hold indirect interests. The contracts, valued at SAR 5.74 million for 2024, do not include any preferential terms. All other items on the meeting's agenda were also approved, the statement added.
Argaam
27-05-2025
- Business
- Argaam
Bahri gets CMA nod to top-up capital to SAR 9.23B via bonus issue
The Capital Market Authority (CMA) approved the National Shipping Company of Saudi Arabia's (Bahri) request to increase its capital from SAR 7.38 billion to SAR 9.23 billion by granting one bonus share for every four shares held. The planned capital hike will be funded by capitalizing SAR 1.84 billion from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 922.85 million to 738.28 million. The deciding extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to data available with Argaam, in March, Bahri's board of directors recommended a 25% capital increase through a 1-for-4 bonus share issue.
Argaam
22-05-2025
- Business
- Argaam
Mulkia Investment gets CMA nod on 20% capital hike via bonus issue
The Capital Market Authority (CMA) approved Mulkia Investment Co. 's request to increase its capital from SAR 65 million to SAR 78 million through issuing one bonus share for every five existing shares owned, according to a statement. Subscription eligibility will be to shareholders who are registered with the Securities Depository Center (Edaa) as of the closing of the second trading day after the record date, which will be determined later. The planned capital hike will be funded by capitalizing SAR 13 million from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 6.5 million to 7.8 million. The company's extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to data available with Argaam, in March, the company's board of directors recommended a 20% capital increase through a 1-for-5 bonus share issue. Capital Increase Details Current Capital SAR 65 mln Current Number of Shares 6.5 mln Nominal Value SAR 10 Capital Increase (%) 20% (One bonus shares for each five existing shares) Method Capitalizing SAR 13 mln from retained earnings New Capital SAR 78 mln Number of Shares 7.8 mln Reason Enhancing financial solvency in line with its future aspirations, implementing growth plans and maximizing shareholder returns. Eligibility Shareholders of record on the EGM date, which will be determined later, and those registered with Edaa by the end of the second trading day after the EGM Fractional shares, if any, will be consolidated into a single portfolio for all shareholders and sold at the market price. The resulting amount will then be distributed among eligible shareholders pro rata, within a period not exceeding 30 days.
Argaam
22-05-2025
- Business
- Argaam
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.
Argaam
21-05-2025
- Business
- Argaam
Jabal Omar OKs SAR 108.5M statutory reserve transfer to retained earnings
Jabal Omar Development Co. 's shareholders approved the transfer of the statutory reserve balance amounting to SAR 108.5 million, as per the 2024 financial statements, to retained earnings during the extraordinary general meeting (EGM) held on May 20. In a statement to Tadawul, the company said shareholders also approved the remaining items on the agenda during the EGM.
