Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) on Sunday announced that its shareholders had approved transferring SAR 20 million from the statutory deposit to retained earnings account during an ordinary general meeting (OGM) held on Thursday, 31 May.
The OGM also endorsed audited financial statements and audit report for the full-year 2017, according to the company's statement to the Saudi Stock Exchange (Tadawul).
On the other hand, GASCO's extraordinary general assembly has agreed on stopping a 10% retained profit in order to form the company’s statutory reserve.
GASCO’s profits declined 40.24% to SAR 38.83 million for the first quarter of 2018, compared to SAR 64.98 million in Q1-17.
By the end of Thursday’s session, GASCO’s stock rose 0.67% at SAR 30.25.
