Logo of Academy of Learning (AOL)
Shareholders of Academy of Learning (AOL) approved the board’s recommendation on reducing the stock’s nominal value to SAR 1 from SAR 10 during the extraordinary general meeting (EGM) held on June 14.
AOL’s capital will see no change after the stock split, the company said in a filing to Tadawul.
|
Stock Split Details |
|
|
Current Capital |
SAR 60 mln |
|
Current Number of Shares |
6 mln |
|
Nominal Value |
SAR 10/share |
|
Capital After Stock Split |
SAR 60 mln |
|
New Number of Shares |
60 mln |
|
Nominal Value after Stock Split |
SAR 1/share |
|
Effective Date |
Shareholders registered with Edaa by the close of the second trading day after the EGM. |
|
Application Date |
The number of shares in shareholder portfolios will be adjusted accordingly on the second trading day following the EGM. |
The board was also authorized to pay interim dividends on a semi-annual or quarterly basis for 2023.
In a separate statement, the Saudi Exchange (Tadawul) said the fluctuation limit was based on a share price of SAR 7.05 today, June 15. Outstanding orders were canceled.
Edaa will deposit the stock-split shares in investor portfolios before the start of trade on June 19.
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