Headquarters of Saudi Top for Trading Co.
Nomu-listed Saudi Top for Trading Co.’s shareholders are set to vote on the board of directors’ recommendation to reduce the stock nominal value from SAR 10 to SAR 1 a share, during the extraordinary general meeting (EGM) slatted for Oct. 8, 2023.
The stock split process will take place while maintaining the company’s capital unchanged, according to a statement to Tadawul.
|
Details of Stock Split |
|
|
Current Capital |
SAR 40 mln |
|
No. of Shares |
4 mln |
|
Stock Nominal Value |
SAR 10 |
|
New Capital |
SAR 40 mln |
|
No. of Shares |
40 mln |
|
Stock Nominal Value |
SAR 1 |
The company said that the decision, if approved, will be effective for shareholders owning shares on the EGM date and registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the EGM date.
The decision's impact on the stock price will appear as of the second business day following the EGM, provided that the decision is implemented in relation to the number of shares in shareholders' portfolios on the second trading day following the EGM date.
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