Al-Jouf Mineral Water EGM to discuss stock split to SAR 0.5/share on March 3

Logo of Al-Jouf Mineral Water Bottling Co.

Shareholders of Al-Jouf Mineral Water Bottling Co. will discuss reducing the stock’s nominal value from SAR 10 to SAR 0.5 during the extraordinary general meeting (EGM) to be held on March 3.

 

As a result, the share capital would increase from 4.69 million to 93.75 million, the company said in a filing to Tadawul today, Feb. 6.

 

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There will be no change in the company's capital before or after the stock split, it confirmed.

 

Stock Split Details

Current Capital

SAR 46.88 mln

Current Number of Shares

4.69 mln

Nominal Value

SAR 10

New Capital

SAR 46.88 mln

New Number of Shares

93.75 mln

New Nominal Value

SAR 0.50
 

It also indicated that the proposed stock split decision would apply to all shareholders of record on the EGM day and those registered with the Saudi Securities Depository Center (Edaa) by the close of trading on the second day following the meeting date.

 

The decision shall take effect on the stock price starting from the next business day following the deciding EGM.

 

If approved, the adjustment to the number of shares in shareholders’ portfolios will be applied on the second trading day after the EGM.

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