Alwasail Industrial shareholders to vote on 10:1 stock split on Nov. 15

25/10/2023 Argaam
Logo ofAlwasail Industrial Co.

Logo of Alwasail Industrial Co.

Alwasail Industrial Co. shareholders will vote on reducing the stock's par value from SAR 10 to SAR 1 without changing the company’s capital during the extraordinary general meeting (EGM), scheduled for Nov. 15, according to a Tadawul statement.

 

Stock Split Details

Current Capital

SAR 250 mln

Current Number of Shares

25 mln

Share Par Value

SAR 10

New Capital

SAR 250 mln

New Number of Shares

250 mln

Par Value After Stock Split

SAR 1
 

The company said that the decision, if approved, will be effective for shareholders who own shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date.

 

The effect of the decision will be applied to the share 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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