Logo of Al-Jouf Agricultural Development Co.
Shareholders of Al-Jouf Agricultural Development Co. will vote on reducing the stock's nominal value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) scheduled for Nov. 21, according to a Tadawul statement.
|
Nominal Value Reduction Details |
|
|
Current Capital |
SAR 300 mln |
|
Number of Shares |
30 mln |
|
Stock Nominal Value |
SAR 10 |
|
New Capital |
SAR 300 mln |
|
New Number of Shares |
300 mln |
|
Par Value After Stock Split |
SAR 1 |
The company said that the decision, if approved, will be effective for shareholders who hold shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the close of the second trading day following the EGM date.
The company said that the decision, if approved, will apply to shareholders who hold shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the close of the second trading day following the EGM date.
Shareholders will also discuss amending Article No. 3 of the company’s bylaws related to corporate objectives, by adding the sale of agricultural waste, sale of agricultural, industrial and animal products, e-commerce, and lease of facilities. Other objectives include the company’s engagement in supplementary activities in the health, tourism, real estate and education sectors, the statement added.
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