National Gypsum Transfers SAR 95M from Statutory Reserve
NGC 2090.SA | 14.61 | -1.55% |
National Gypsum Company announced on February 25, 2026 the results of its Extraordinary General Assembly Meeting (Third Meeting) held on February 24, 2026 via modern technology with 14.33% shareholder attendance. The meeting approved amendments to the Company's Articles of Association in line with the new Companies Law and several financial restructuring measures. Key approvals included transferring SAR 64,234,323 from statutory reserves to offset accumulated losses, transferring SAR 30,765,675 from statutory reserves to retained earnings, and transferring SAR 3 from statutory reserves to paid-up capital, bringing the company's total capital to SAR 316,666,670 with 31,666,667 shares at SAR 10 nominal value per share. The assembly also approved amendments to various committee charters and governance policies.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93295&anCat=1&cs=2090&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.
