Future Care shareholders approve stock split to SAR 0.1/share

Logo of Future Care Trading Co.

Future Care Trading Co.’s shareholders approved splitting the nominal value of the share from SAR 10 to SAR 0.1, during the extraordinary general meeting (EGM) held on June 11.

In a statement to Tadawul, Future Care pointed out that the stock split decision, if approved, will be applicable on all shareholders on the EGM date and those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM.

The stock split will apply starting from the subsequent working day following the EGM. Meanwhile, the new number of shares in shareholders’ portfolios will take effect by the end of the second trading day following the EGM.

Meanwhile, shareholders approved all other items on the meeting’s agenda including electing two board members, Yasser Abu Nami and Ahmed Hassan Nagi, for the vacant board seats effective from the EGM date, June 11, 2023, until the end of the board term in 2026.

They further approved adding Article 12 to the company's articles of association related to the company's purchase, selling and pledging of its shares.

Additionally, they approved the amendment of Article 18 related to the powers of the board of directors.

In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits today, June 12, for Future Care will be based on a share price of SAR 16 and the outstanding orders will be canceled.

The Securities Depository Center (Edaa) will deposit the forward split shares into the investor’s portfolios by June 14.