Shams shareholders OK par value reduction to SAR 0.5/share

13/06/2023 Argaam
Logo ofTourism Enterprises Co. (Shams)

Logo of Tourism Enterprises Co. (Shams)

Tourism Enterprise Co.’s (Shams) shareholders greenlit the board’s proposal for reducing the stock’s par value from SAR 10 to SAR 0.5, during the extraordinary general meeting (EGM) held on June 12.

 

Stock Split Details

Current Capital

SAR 578.24 mln

Current Number of Shares

57.82 mln

Par Value

SAR 10/share

Capital after Stock Split

SAR 578.24 mln

New Number of Shares

1.15 bln

Par Value after Stock Split

SAR 0.50/share

Record Date

June 12, 2023 (Shareholders registered with the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM 

 

In a separate statement, the Saudi Exchange (Tadawul) said Shams’s daily trading fluctuation limit will be based today, June 13, on a share price of SAR 0.87. Outstanding orders will be cancelled. 

 

Edaa will deposit the stock split shares into investor portfolios before the start of trade on June 15. 

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