Al Kathiri shareholders OK stock split from SAR 10 to SAR 0.50

Logo of Al Kathiri Holding Co. 

Shareholders of Al Kathiri Holding Co. approved the board’s proposal for a stock split from SAR 10 to SAR 0.50 without any change to the company’s capital, during the extraordinary general meeting (EGM) held on April 12. 

 

Accordingly, the total number of shares will increase to 226.04 million from 11.30 million shares, Al Kathiri said in a statement to Tadawul.

 

Stock Split Details

Current capital

SAR 113.02 mln

Number of shares

11.30 mln

Current par value

SAR 10 per share

Capital after stock split

SAR 113.02 mln

New number of shares

226.04 mln

Par value after stock split

SAR 0.50 per share

Effective date

All shareholders owning shares on the EGM date and who are registered with Edaa by the close of the second trading day following the EGM

Application date

The day after the EGM date. The new number of shares will be deposited in shareholder portfolios by the close of the second trading day following the EGM date

 

Further, Al Kathiri added that board members were elected for the next three-year term, which started on April 12, 2023. These board members are Meshal Al Kathiri, Saud Al-Shuraim, Khaled Al-Khayal and Abdullah Al Shaikh.

 

In a separate statement, Saudi Exchange (Tadawul) said Al Kathiri’s daily trading fluctuation limit will be based today, April 13, on a share price of SAR 3.47 and the outstanding orders will be canceled.

 

The Securities Depository Center (Edaa) will deposit the split shares into investor portfolios by April 17.

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