Zahrat Al Waha EGM to vote on stock split to SAR 1 on Nov. 18
Logo of Zahrat Al Waha for Trading Co.
Zahrat Al Waha for Trading Co.’s shareholders will vote on the board's recommendation to adjust the stock’s par value from SAR 10 to SAR 1 per share, during the extraordinary general meeting (EGM) to be held on Nov. 18.
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Stock Split Details |
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Current Capital |
SAR 225 mln |
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Number of Shares |
22.5 mln |
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Current Par Value |
SAR 10/share |
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New Capital |
SAR 225 mln |
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New Number of Shares |
225 mln |
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New Par Value |
SAR 1 |
In a statement to Tadawul today, Oct. 19, the company confirmed that there will be no change to its capital of SAR 225 million before or after the planned stock split.
If approved, the decision will apply to all shareholders of record on the EGM date and those registered with the Securities Depository Center (Edaa) by the close of trading on the second day following the record date.
The company added that the adjustment will reflect on the stock price starting from the next business day after the EGM, while the change in the number of shares in shareholders’ portfolios will apply on the second trading day following the meeting date.