Logo ofMolan Steel Co.
Molan Steel Co.’s shareholders approved, duringanextraordinary general meeting (EGM)held on Dec. 30, transferring SAR 3.72 million from the offering premium balance of SAR 4.70 million to offset the company’s accumulated losses. 
According to a statement to Tadawul, the company pointed out that the losses stand at SAR 3.72million, representing 13.97% of capital, as perthe financialstatementsfor the periodended on June 30, 2024.
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The EGM further approved the participation of Muthanna Al Raqtan in competition activities related to the company’s business.
Additionally,shareholdersapproved amendments to the AuditCommittee’s regulations as well as policies, standards, and procedures for board membership and its sub-committees.
Last October, Molan Steel’s boardproposedthe transfer of the entire offering premium of SAR 4.7 million to the retained earnings(losses)to offsetthe company’saccumulated losses, according to Argaamdata.
Logo ofMolan Steel Co.
Molan Steel Co.’s shareholders approved, duringanextraordinary general meeting (EGM)held on Dec. 30, transferring SAR 3.72 million from the offering premium balance of SAR 4.70 million to offset the company’s accumulated losses.
According to a statement to Tadawul, the company pointed out that the losses stand at SAR 3.72million, representing 13.97% of capital, as perthe financialstatementsfor the periodended on June 30, 2024.
For more news on listed companies
The EGM further approved the participation of Muthanna Al Raqtan in competition activities related to the company’s business.
Additionally,shareholdersapproved amendments to the AuditCommittee’s regulations as well as policies, standards, and procedures for board membership and its sub-committees.
Last October, Molan Steel’s boardproposedthe transfer of the entire offering premium of SAR 4.7 million to the retained earnings(losses)to offsetthe company’saccumulated losses, according to Argaamdata.
