The extraordinary general assembly of shareholders of the Arab Internet and Communications Services Company (Solutions), at its meeting yesterday, Wednesday, December 27, 2023, approved the transfer of the statutory reserve to retained earnings.
The company explained, in a statement on the Tadawul website today, Thursday, that the Board of Directors’ recommendation to transfer the statutory reserve amounting to 308.76 million riyals as in the financial statements for the fiscal year 2022 AD to retained earnings was approved.
During the meeting, the Assembly agreed to amend the company’s bylaws in accordance with the new companies’ bylaws, and to rearrange and number the articles of the bylaws. To comply with the proposed amendments.
The company's agenda includes approving the amendment of the audit committee's work regulations, and amending the company's competition controls and standards policy, in addition to the rest of the items on the agenda.
