Saudi Summit shareholders approve reserve transfer
AlQimmah Saudi Trading Company approved a transfer of its entire statutory reserve balance of approximately 5.72 million Riyals to retained earnings to enhance the flexibility of shareholders' equity management. It also authorized the Board of Directors to distribute interim profits on a semi-annual or quarterly basis. Additionally, the approval was given to prepare the financial statements for the fiscal year ending December 31, 2025, and to appoint a new auditor with fees amounting to 378,000 Riyals. The company also approved amendments to its Articles of Incorporation and internal policies.
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