GAS board proposes stock split, buyback of 100,000 shares

15/06/2023 Argaam

GAS board proposes stock split, buyback of 100,000 shares

Logo of Gas Arabian Services Co. (GAS)

Gas Arabian Services Co. (GAS) board of directors recommended, on June 14, a stock split.

 

Stock Split Details

Current Capital

SAR 158 mln

Current No. of Shares

15.8 mln

Current Stock Par Value

SAR 10

Capital Post Stock Split

SAR 158 mln

No. of Shares

158 mln

Stock Par Value Post Stock Split

SAR 1

 

The company is committed to finalizing the relevant measures and will announce the related updates in due course.

 

In a separate statement, GAS’ board of directors announced a buyback of 100,000 shares for the stock incentive plan. The share repurchase will be financed from internal resources, either cash or credit facilities. GAS currently holds 0.20% treasury shares.

 

The repurchased shares will not have the right to vote in the general meetings, the statement added.

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