Sahara International Petrochemical Co. (Sipchem)headquarters
Sahara International Petrochemical Co.’s (Sipchem) shareholders approved transferring the statutory reserve of SAR 2.09 billion as on financial statements for 2023, to the retained earnings, during the extraordinary general meeting (EGM) held on May 21, according to a statement to Tadawul. 
They also endorsed extending the maximum period within which the company may retain the 8.21 million shares as treasury shares, and which was previously approved by the EGM as 10 additional years starting from the general meeting approval date. After this period expires, the company will comply with the procedures stipulated in the applicable regulations.
They further approved authorizing the board to distribute interim dividends on a semi-annual or quarterly basis, for 2024, the statement added.
Sahara International Petrochemical Co. (Sipchem)headquarters
Sahara International Petrochemical Co.’s (Sipchem) shareholders approved transferring the statutory reserve of SAR 2.09 billion as on financial statements for 2023, to the retained earnings, during the extraordinary general meeting (EGM) held on May 21, according to a statement to Tadawul.
They also endorsed extending the maximum period within which the company may retain the 8.21 million shares as treasury shares, and which was previously approved by the EGM as 10 additional years starting from the general meeting approval date. After this period expires, the company will comply with the procedures stipulated in the applicable regulations.
They further approved authorizing the board to distribute interim dividends on a semi-annual or quarterly basis, for 2024, the statement added.
