Logo of Anaam International Holding Group
Shareholders of Anaam International Holding Group approved a reverse stock split, raising the nominal share value from SAR 0.50 to SAR 10, during the extraordinary general meeting (EGM) held on Feb. 12. according to a statement on Tadawul.
|
Details |
|
|
Current Capital |
SAR 315 mln |
|
No. of Shares |
630 mln |
|
Share Par Value |
SAR 0.50 |
|
Capital after Reversal |
SAR 315 mln |
|
No. of Shares after Reversal |
31.50 mln |
|
Par Value after Reversal |
SAR 10/share |
The decision will be effective for all the company's shareholders of record on the EGM date and registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM.
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The statement pointed out that the decision shall apply to the stock price starting from the business day following the EGM, provided that it will be implemented in shareholders’ portfolios by the end of the second trading day following the EGM date.
The Saudi Exchange (Tadawul) said that the fluctuation limit for the stock will be calculated based on a price of SAR 26.20, with all existing orders canceled.
Trading will be suspended for two business days, starting today, Feb. 13. Edaa will add the split shares to shareholders' portfolios.
The trading suspension will be lifted at the end of trading on Feb. 16.
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