Logo of Mayar Holding Co.
Shareholders of Mayar Holding Co. gave the go-ahead for the board’s recommendation on reducing the stock nominal value from SAR 10 to SAR 0.50 during the extraordinary general meeting (EGM) held on Sept. 28.
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Nominal Value Reduction Highlights |
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Current Capital |
SAR 60 mln |
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Current Number of Shares |
6 mln |
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Current Nominal Value |
SAR 10 |
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New Capital |
SAR 60 mln |
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New Number of Shares |
120 mln |
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Nominal Value After Reduction |
SAR 0.5/share |
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Effective Date |
Sept. 28, 2023 (Shareholders registered with Edaa by the close of the second trading day following the EGM date. |
In a statement to Tadawul, Mayar said its capital will remain unchanged.
The stock split will apply to the share price as of the business day following the EGM. The number of shares will be adjusted in shareholder portfolios on the second trading day following the EGM date.
In a separate statement, the Saudi Exchange (Tadawul) indicated that fluctuation limits were based today, Oct. 1, on the stock price of SAR 5.69 a share. Outstanding orders will be canceled.
The Securities Depository Center (Edaa) will add the stock-split securities to shareholder accounts before the start of trading on Oct. 3.
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