Riyadh – Mubasher: The shareholders of Bawan Co. approved to use SAR 88.9 million worth statutory reserve to offset the accumulated losses that represent 13.5% of the company’s capital.

Bawan’s shareholders agreed, during the ordinary general meeting (OGM) held on Wednesday, 23 May, to authorise the board members for distributing dividends to the entitled shareholders whether for the semi-annual or quarterly periods of fiscal year 2019.

During fiscal year 2018, Bawan incurred a loss of SAR 218.35 million against a net profit of SAR 71.01 million in FY17.