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Logo of Jahez International Company for Information System Technology
Jahez International Company for Information System Technology shareholders will vote on reducing the stock's par value from SAR 10 to SAR 0.5, during the extraordinary general meeting (EGM), scheduled for Nov. 29, according to a Tadawul statement.
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Stock Split Details |
|
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Current Capital |
SAR 104.92 mln |
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Current Number of Shares |
10.49 mln |
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Share Par Value |
SAR 10 |
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New Capital |
SAR 104.92 mln |
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New Number of Shares |
209.84 mln |
|
Par Value After Stock Split |
SAR 0.5 |
The EGM will also vote on the share buyback with a maximum of 293,770 shares, to retain them as treasury shares.
The purchase of these shares will be financed through the company’s internal resources or bank facilities. The board of directors will be authorized to execute the purchase within a maximum period of 12 months of the EGM’s decision.
The company may retain the treasury shares for a maximum period of 24 months from the EGM date, and after the expiry of this period, the company will follow the procedures and policies stipulated in the relevant laws and regulations.
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