Logo of KEIR International Co.
Shareholders of KEIR International 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 20, according to a statement to Tadawul.
There is no change in the company's capital before and after stock split, KEIR said.
|
Stock Split Details |
|
|
Current Capital |
SAR 120 mln |
|
Number of Shares |
12 mln |
|
Share Par Value |
SAR 10 |
|
New Capital |
SAR 120 mln |
|
New Number of Shares |
120 mln |
|
Record Date |
June 20, 2023 (Shareholders registered with Edaa by the end of the second trading day following the EGM) |
The stock split will apply to shareholders of record and those registered with Edaa on the second trading day following the EGM date.
The stock split will apply to the share price as of the business day following the EGM, and the number of shares will be adjusted in shareholder portfolios on the second trading day following the EGM date.
In addition, KEIR’s shareholders approved a 7.4% cash dividend, or SAR 0.74 per share, for 2022.
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Dividend Details (2022) |
|
|
Current capital |
SAR 120 mln |
|
Number of shares |
12 mln |
|
Dividend |
SAR 8.93 mln |
|
Percentage of capital |
7.4% (SAR 0.74 per share) |
|
Record date |
June 20, 2023 (Shareholders of record with Edaa by the end of the second trading day following the record date) |
|
Payment date |
July 16, 2023 |
In a separate statement, Tadawul said the stock’s fluctuation limits will be based on a share price of SAR 5.74 today, June 21. Accordingly, the outstanding orders will be canceled.
The Securities Depository Center (Edaa) will deposit the split shares into the investor’s portfolios by July 2, the statement added.
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