Maharah shareholders to vote on reducing nominal value to SAR 1 on Feb. 1

Logo of Maharah Human Resources Co.

Shareholders of Maharah Human Resources Co. will discuss reducing the stock's nominal value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) scheduled for Feb. 1, according to a Tadawul statement.

 

Highlights of Nominal Value Reduction

Current Capital

SAR 475 mln

Number of Shares

47.5 mln

Nominal Value

SAR 10

New Capital

SAR 475 mln

New Number of Shares

475 mln

Nominal Value After Reduction

SAR 1
 

In a statement to Tadawul, Maharah said that the decision, if approved, will be effective for shareholders owning shares on the EGM date and registered with the Securities Depository Center Co. (Edaa) by the close of the second trading day following the EGM date.

 

The decision impact on the stock price will appear as of the second business day following the EGM, provided that the decision is applied to the number of shares in shareholders' portfolios on the second trading day following the EGM date.

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