Logo of Sadr Logistics Co.
Shareholders of Sadr Logistics Co. approved the board’s recommendation to reduce the stock’s par value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM), held on June 14, according to a statement to Tadawul.
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Stock Split Details |
|
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Current Capital |
SAR 175 mln |
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Current No. of Shares |
17.5 mln |
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Stock Nominal Value |
SAR 10 a share |
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Post Stock Split Capital |
SAR 175 mln |
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No. of Shares |
175 mln |
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Stock Nominal Value |
SAR 1 a share |
The stock split will be applicable on shareholders of record and those registered with Edaa on the second trading day following the EGM date.
The stock split will be applied to the share price as of the business day following the EGM, while the number of shares will accordingly be adjusted in shareholder portfolios on the second trading day following the EGM date.
Additionally, shareholders approved the board recommendation to withhold dividends for 2022, to boost the company’s financial position and bolster expansions as well as future projects.
In a separate statement, Tadawul said the stock’s fluctuation limits will be based on a share price of SAR 4.42 today, June 15, and the outstanding orders will be canceled.
Securities Depository Center (Edaa) will deposit the split shares into the investor’s portfolios by June 19, the statement added.
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