‎“Solutions” GA agrees to transfer 308 million riyals the ‎statutory reserve to retained earnings

Arabia Internet and Communications Services Company (Solutions) announced to its shareholders the results of the extraordinary general assembly meeting (first meeting), which was held on December 27, 2023.

Voting results:

– Approval of amending the company’s bylaws in accordance with the new companies’ bylaws, and rearranging and numbering the articles of the bylaws; To comply with the proposed amendments

– Approval of amending the work regulations of the Audit Committee

– Approval to amend the company’s competition controls and standards policy

– Approval to transfer the balance of the statutory reserve amounting to (308,758,320) Saudi riyals as in the financial statements for the year ending December 31, 2022 AD to retained earnings.