Batic EGM approves 10-for-1 stock split

Logo of Batic Investments and Logistics Co.

Shareholders of Batic Investments and Logistics Co. approved the board’s recommendation to reduce the stock’s par value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) held on June 21, the company said in a statement to Tadawul.

Stock Split Details
Current Capital	SAR 600 mln
Number of Shares	60 mln
Nominal Value	SAR 10/share
Post-Split Capital	SAR 600 mln
Post-Split Number of Shares	600 mln
Post-Split Nominal Value	SAR 1/share
Effective Date	Shareholders of record on the day of the EGM and those registered with Edaa at the end of the second trading day following the date of the EGM

The stock price will be adjusted accordingly starting from the working day following the EGM. The stock split will apply to the number of shares in shareholders' portfolios by the end of the second trading day following the EGM.

Moreover, shareholders approved transferring the statutory reserve amounting to SAR 48.99 million, as of Dec. 31, 2022, to accumulated profits/losses balance.

In a separate statement, Tadawul said the stock’s fluctuation limits will be based on a share price of SAR 2.34 today, June 22. Accordingly, the outstanding orders will be canceled.

The Securities Depository Center (Edaa) will deposit the post-stock split shares into shareholders' portfolios by July 3, the statement added.

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