Aqaseem shareholders to vote on 10:1 stock split on Dec. 15

04:53 PM (Mecca time) Argaam
Logo ofAqaseem Factory for Chemicals and Plastics Co.

Logo of Aqaseem Factory for Chemicals and Plastics Co.

Shareholders of Aqaseem Factory for Chemicals and Plastics Co. will vote on reducing the stock's nominal value from SAR 10 to SAR 1 per share, during the extraordinary general meeting (EGM) scheduled for Dec. 15.

 

Accordingly, the share capital would increase to 25 million from 2.5 million currently, the company said in a statement to Tadawul today, Nov. 24.

 

For more news on listed companies

 

If agreed, the stock split resolution will be effective for all shareholders of record, registered with the Securities Depository Center Co. (Edaa) by the close of trading on the second trading day following the EGM date.

 

The stock split impact will apply to the company’s stock price starting from the day following the EGM date. This is provided that the number of shares will be reflected in shareholders' portfolios at the end of the second trading day following the EGM date.

 

Stock Split Details

Current Capital

SAR 25 mln

Current No. of Shares

2.5 mln

Stock Nominal Value

SAR 10/share

New Capital

SAR 25 mln

New Number of Shares

25 mln

New Nominal Value

SAR 1
 

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