Logo of Jahez International Company for Information System Technology
Shareholders of Jahez International Company for Information System Technology approved, on Nov. 29, the board’s proposal for reducing the stock's nominal value from SAR 10 to SAR 0.5 per share, the company said in a Tadawul statement.
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Nominal Value Reduction Details |
|
|
Current Capital |
SAR 104.92 mln |
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Current Number of Shares |
10.49 mln |
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Nominal Value |
SAR 10/share |
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Post-Stock Split Capital |
SAR 104.92 mln |
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New Number of Shares |
209.84 mln |
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Post-Stock Split Nominal Value |
SAR 0.5/share |
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Effective Date |
Nov. 29 (Shareholders registered with Edaa by the close of trading on the second day following the EGM). |
The stock split has no impact on the company’s capital, Jahez added.
Shareholders also gave the go-ahead for the repurchase of 293,770 as treasury shares.
In a separate statement, the Saudi Exchange (Tadawul) said Jahez daily trading fluctuation limit will be based today, Nov. 30, on a share price of SAR 26. Outstanding orders will be canceled.
The Securities Depository Center Co. (Edaa) will deposit the stock split shares into investor portfolios by the start of trade on Dec. 4.
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