‎“Arab Sea” GA agrees to transfer 16.5 million riyals from ‎statutory reserve to retained earnings

Board of Directors of Arab Sea Information Systems Company announced to shareholders the results of the Ordinary General Assembly Meeting (first meeting), which was held at exactly 19:00 pm on Thursday, December 28, 2023, via modern technology.

Voting results:

‎1. Approval to amend the work regulations of the Audit Committee

‎2. Approval of amending the work regulations of the Remuneration and Nominations Committee

1. Approval of amending policies, standards and procedures for membership in the Board of Directors
2. Approval to amend the remuneration policy for the Board of Directors, its committees, and the executive management
3. Approval to transfer the balance of the statutory reserve amounting to (16,501,562) riyals as in the financial statements for the year ending December 31, 2022 to the retained earnings account.