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Saudi Automotive Services Co. (SASCO) announces the latest updates of the Board of Directors’ recommendation to transferring the company’s statutory reserve to the retained earnings
| Element List | Explanation |
|---|---|
| Introduction | SASCO refers to its announcement at Tadawul website on March 28, 2024 regarding the Board of Directors’ recommendation to transferring the company’s statutory reserve to the retained earnings. The company would like to announce the cancellation of the previous Board of Directors’ recommendation to transfer the entire balance of the statutory reserve (83.1 Million SAR) to the retained earnings item and use the entire amount of the statutory reserve to increase capital. Note that there is no impact on the financial statements. |
| Previous Announcement | The Board of Directors’ recommendation to transferring the company’s statutory reserve to the retained earnings |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-03-28 Corresponding to 1445-09-18 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Cancellation of the previous Board of Directors’ recommendation to transfer the entire balance of the statutory reserve (83.1 Million SAR) to the retained earnings item and use the entire amount of the statutory reserve to increase capital. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 81.2
Net Change -3.5 (-4.13%)
Value Traded (Sar) 43,292,405
Volume Traded 540,302
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