Canadian Medical Center shareholders to vote on 10-for-1 stock split on June 20

Logo of Canadian Medical Center

Canadian Medical Center Co.’s (CMCER) shareholders will vote on a stock split from SAR 10 to SAR 1, during an extraordinary general meeting (EGM) scheduled for June 20.

 

Capital will remain unchanged pre and post the stock split, the company said in a statement to Tadawul today, May 25.

 

Stock Split Details

Current Capital

SAR 77 mln

Number of Shares

7.7 mln

Share Par Value

SAR 10

New Capital

SAR 77 mln

New Number of Shares

77 mln

Par Value After Stock Split

SAR 1 per share

Effective Date

The decision, if approved, will be effective for shareholders owning shares on the day of the EGM and who are registered with Edaa at the end of the second trading day following EGM date
 

The effect of the decision will apply to the stock price starting from the working day following the EGM meeting, provided that the decision will be implemented with regard to the number of shares in the shareholders’ portfolios on the second trading day following the EGM date.

 

Shareholders will also vote on authorizing the board of directors to pay interim dividends on a quarterly or semi-annual basis, for 2023.

 

This is besides deciding on amending the company's bylaws to comply with the new Companies Law.

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