Baazeem shareholders OK reducing nominal value to SAR 1/shr

07/08/2024 Argaam

Logo of baazeem Trading Co.

Shareholders of baazeem Trading Co. approved, during the extraordinary general meeting (EGM) on Aug. 6, the board’s proposal for reducing the stock's nominal value from SAR 10 to SAR 1 per share, the company said in a Tadawul statement.

 

Details of Nominal Value Reduction

Current Capital

SAR 101.25 mln

Number of Shares

10.13 mln

Nominal Value

SAR 10

New Capital

SAR 101.25 mln

New Number of Shares

101.25 mln

Nominal Value After Reduction

SAR 1
 

In a separate statement, the Saudi Exchange (Tadawul) indicated that fluctuation limits were based today, Aug. 7, on the stock price of SAR 5.94 a share. Outstanding orders will be canceled.

 

The Securities Depository Center (Edaa) will add the stock-split securities to shareholder accounts before the start of trading on Aug. 11.

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