Logo of Abdullah Saad Mohammed Abo Moati for Bookstores Co.
Shareholders of Abdullah Saad Mohammed Abo Moati for Bookstores Co. rejected reducing the stock's par value from SAR 10 to SAR 1 without changing the company’s capital during the extraordinary general meeting (EGM) held on Dec. 27.
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Stock Split Details |
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Current Capital |
SAR 200 mln |
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Number of Shares |
20 mln |
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Share Nominal Value |
SAR 10 |
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New Capital |
SAR 200 mln |
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New Number of Shares |
200 mln |
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Nominal Value After Stock Split |
SAR 1 |
In a statement to Tadawul, Abo Moati said that shareholders also rejected amending Articles 7 and 8 of bylaws with regard to the company’s capital and subscription to shares.
They greenlit transferring SAR 7.03 million statutory reserve as of March 31, 2023, to retained earnings.
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