Al-Jouf Mineral Water EGM OKs stock split to SAR 0.5/share

Logo of Al-Jouf Mineral Water Bottling Co.

Shareholders of Al-Jouf Mineral Water Bottling Co. gave the go-ahead for reducing the stock’s nominal value from SAR 10 to SAR 0.5 during the extraordinary general meeting (EGM) held on March 3.

Accordingly, the total number of shares will increase to 93.75 million, from 4.69 million, the company said in a statement to Tadawul.

There is no change in the company's capital before or after the stock split, it confirmed.

The stock split decision would apply to all shareholders of record on the EGM date and those registered with the Saudi Securities Depository Center (Edaa) by the close of trading on the second day following the meeting date.

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The decision shall take effect on the stock price starting from the next business day following the EGM.

The Saudi Exchange (Tadawul) said that the fluctuation limit for the stock will be calculated based on a price of SAR 2 for today, March 4, and all existing orders will be canceled.

Edaa will apply stock-split measures on shareholders’ portfolios before the start of trading on March 6.