Burgerizzr shareholders approve 10-for-1 stock split

Logo of Shatirah House Restaurant Co. (Burgerizzr)

Shatirah House Restaurant Co.’s (Burgerizzr) shareholders approved the board’s recommendation on reducing the stock’s nominal value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) held on May 31.

In a statement to Tadawul, the company pointed out that the fluctuation rate will be calculated based on a share price of SAR 8.39 for today, June 1, and any outstanding orders shall be cancelled.

Edaa will add the respective split shares to shareholders’ portfolios prior to start of trading on June 5, the statement noted.

The division decision will be effective for all shareholders on the day of EGM, and those registered with Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.

Moreover, shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year ending Dec. 21, 2023.