Logo of Saudi Chemical Co. Holding (SCCH)
Shareholders of Saudi Chemical Co. Holding (SCCH) approved reducing nominal value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM) held on June 21, the company said in a statement to Tadawul.
The company indicated that capital will remain unchanged after the stock split.
|
Stock Split Details |
|
|
Current Capital |
SAR 843.2 mln |
|
Number of Shares |
84.32 mln |
|
Nominal Value |
SAR 10/share |
|
Post-Split Capital |
SAR 843.2 mln |
|
Post-Split Number of Shares |
843.20 mln |
|
Post-Split Nominal Value |
SAR 1/share |
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Effective Date |
June 21, 2023 (Shareholders registered with the Securities Depository Center Company (Edaa) by the end of the second trading day following the EGM date) |
|
Application Date |
The stock price will be adjusted accordingly starting from the working day following the EGM. The stock split will apply to the number of shares in shareholders' portfolios by the end of the second trading day following the EGM. |
Shareholders also authorized the board of directors to distribute an interim dividend for 2023 on a semiannual or quarterly basis.
Shareholders also ratified halting the allocation of 10% of net earnings for the statutory reserve, whenever it reaches 30% of capital.
In a separate statement, Tadawul indicated that fluctuation limits were based today, June 22, on the stock price of SAR 3.77 a share, and the outstanding orders will be cancelled.
Edaa will add the stock split securities in shareholder accounts before start of trading on July 3.
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