Al-Jouf Agricultural shareholders to vote on 10:1 stock split on Dec. 19

Logo of Al-Jouf Agricultural Development Co. 

Shareholders of Al-Jouf Agricultural Development Co. will vote on reducing the stock’s nominal value from SAR 10 to SAR 1 per share during the extraordinary general meeting (EGM) slated for Dec. 19. 

 

Stock Split Details

Current Capital

SAR 300 mln

Current No. of Shares

30 mln

Current Nominal Value

SAR 10

New Capital

SAR 300 mln

No. of Shares

300 mln

Post-Stock Split Par Value 

SAR 1
 

In a statement to Tadawul, the company pointed out that if the proposal is approved, the stock split will be applicable to all shareholders owning shares on the EGM date and registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the EGM date.

 

The decision's impact on the stock price will appear as of the second business day following the EGM, provided that the decision is implemented in relation to the number of shares in shareholders' portfolios on the second trading day following the EGM date. 

 

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