BinDawood Holding Co.’s headquarters
BinDawood Holding Co. shareholders are set to vote on a 10-for-1 stock split from SAR 10 to SAR 1 per share, during the extraordinary general assembly meeting (EGM) slated for June 22, according to a statement to Tadawul.
|
Stock Split Details |
|
|
Current Capital |
SAR 1.14 bln |
|
Number of Shares |
114.3 mln |
|
Share Par Value |
SAR 10 |
|
New Capital |
SAR 1.14 bln |
|
New Number of Shares |
1.14 bln |
|
Par Value After Stock Split |
SAR 1 |
If approved, the decision will be applicable to shareholders registered with the Securities Depository Center Company (Edaa) by the end of the second trading day following the EGM.
The company also noted that the decision shall apply to the stock price starting from the working day following the EGM. This is provided that the number of shares in shareholders' portfolios will take effect by the end of the second trading day following the EGM.
Shareholders will also vote on authorizing the board of directors to distribute interim dividends for 2023 on a semi-annual or quarterly basis.
Meanwhile, they will decide on transferring the statutory reserve account of SAR 123.18 million as of Dec. 31, 2022, to the retained earnings account.
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