Logo of Ladun Investment Co.
Shareholders of Ladun Investment Co. approved on May 31 the board’s recommendation of a stock split from SAR 10 to SAR 1, according to a statement to Tadawul.
There will not be a change in the company’s capital due to the stock split process.
|
Stock Split Details |
|
|
Current Capital |
SAR 500 mln |
|
Number of Shares |
50 mln |
|
Par Value |
SAR 10/share |
|
Share Capital |
SAR 500 mln |
|
New Number of Shares |
500 mln |
|
Par Value after Stock Split |
SAR 1/share |
|
Record Date |
May 31, 2023, including shareholders registered with the Securities Depository Center Company (Edaa) by the end of the second trading day following the EGM |
The division decision will be effective for all shareholders on the day of the extraordinary general meeting (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.
Meanwhile, shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2023.
In a separate statement, the Saudi Exchange (Tadawul) said Ladun Investment’s daily trading fluctuation limit will be based today, June 1, on a share price of SAR 1.81 and the outstanding orders will be canceled.
Edaa will deposit the split shares into investor portfolios by June 5.
In April, Ladun’s board recommended a stock split from SAR 10 to SAR 1, according to data compiled by Argaam.
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