The general assembly of Yamamah Steel agrees to transfer 60 million riyals from the statutory reserve to retained earnings

The extraordinary general assembly of Yamamah Steel Industries Company (Al Yamamah Steel) approved, during its meeting yesterday, Wednesday, to transfer an amount of 60 million riyals from the statutory reserve account as of March 31, 2023, to the retained earnings account. The company added, according to a statement it made today, Thursday, on “Saudi Tadawul”, that the Assembly also agreed to elect members of the Board of Directors for the next session that starts from June 26, 2023, for 3 years ending on June 25, 2026. Al Muhanna Abdullah Ibrahim was elected, Khalid bin Abdullah Mohammed Al-Shami, Raed Ibrahim Suleiman Al-Mudaihim, Abdulrahman bin Rashed bin Hindi Al-Balawi, Saad Ibrahim Abdulaziz Al-Moajil, Adnan Abdul-Rahman Abdullah Al-Mansour, and Abdul-Hamid Abdulaziz Muhammad Al-Ohali.