Molan Steel shareholders to vote on 10:1 stock split on Aug.13

24/07/2023 Argaam
Logo ofMolan Steel Co.

Logo of Molan Steel Co.

Molan Steel Co.’s shareholders will vote on splitting the stock par value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) scheduled for August 13.

 

In a statement to Tadawul, Molan Steel said that the company's capital will remain unchanged after the stock split.

 

Stock Split Details

Current Capital

SAR 26.6 mln

Current Number of Shares

2.66 mln

Current Par Value

SAR 10/share

Capital after Stock Split

SAR 26.6 mln

Number of Shares after Stock Split

26.6 mln

Par Value after Stock Split

SAR 1/share

Record Date

August 13, 2023 (Shareholders registered with the Securities Depository Center Company by the close of the second trading day following the record date)
 

The effect of the decision will be applied to the stock price starting from the business day following the EGM, provided that the decision will be implemented in relation to the number of shares in shareholders’ portfolios on the second trading day following the EGM date.

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