Tadweeer shareholders OK stock split from SAR 10 to SAR 1

06/04/2023 Argaam

Tadweeer shareholders OK stock split from SAR 10 to SAR 1

Logo of National Environmental Recycling Co. (Tadweeer)

Shareholders of National Environmental Recycling Co.’s (Tadweeer) approved the board’s proposal for a stock split from SAR 10 to SAR 1 without any change to the company’s capital in the extraordinary general meeting (EGM) held on April 5.

 

Accordingly, the total number of shares will increase to 58.08 million from 5.81 million shares.

 

Stock Split Details

Current capital

SAR 58.08 mln

Number of shares

5.81 mln

Current par value

SAR 10 per share

Capital after stock split

SAR 58.08 mln

New number of shares

58.08 mln

Par value after stock split

SAR 1 per share

Effective date

All shareholders owning shares on the EGM date and who are registered with Edaa by the close of the second trading day following the EGM

Application date

The day after the EGM date. The new number of shares will be deposited in shareholder portfolios by the close of the second trading day following the EGM date

 

In a statement to Tadawul, Tadweeer added that other agenda items were also approved during the meeting.

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