Arab Sea shareholders to vote on 10:1 stock split on Sept. 13

23/08/2023 Argaam

Arab Sea shareholders to vote on 10:1 stock split on Sept. 13

Logo of Arab Sea Information Systems Co.

Arab Sea Information Systems Co.’s shareholders will vote on the board's recommendation to split the stock nominal value from SAR 10 to SAR 1, during an extraordinary general meeting (EGM) slated for Sept. 13, according to a statement to Tadawul.

 

The stock split will apply to shareholders of record on the EGM date and those registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the EGM date.

 

The company's board recommended the stock split on Aug. 16. Accordingly, the number of shares would increase from 10 million to 100 million, Argaam’s data showed.

 

Shareholders will also vote on electing new board members for the upcoming three-year term ending on Sept. 16, 2026.

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