Anaam shareholders approve reducing par value to SAR 0.5

Logo of Anaam International Holding Group

Anaam International Holding Group shareholders approved reducing the stock's par value from SAR 10 to SAR 0.50, during the extraordinary general meeting (EGM) held on July 6, according to a statement on Tadawul.

The company said the decision will be effective for all shareholders on the day following the EGM, and those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.  

The share price and the number of shares in shareholders’ portfolios will be adjusted at the end of the second trading day following the EGM. 

However, shareholders refused to release the board members from their liability for 2022 and rejected the amendment of Article (20) of the company's bylaws related to the board’s powers. 

Shareholders also rejected a proposal to amend Article (22) of the company’s bylaws related to the powers of the president, deputy, managing director and secretary. 

In a separate statement, the Saudi Exchange (Tadawul) announced that the stock’s fluctuation limits for Anaam will be based on a share price of SAR 1.29 for today, July 9. Accordingly, the outstanding orders will be canceled.  

Edaa will deposit the split shares into investors’ portfolios by July 11, the statement added.