Baazeem shareholders to vote on par value reduction on July 14

23/06/2024 Argaam
Logo ofBaazeem Trading Co.

Logo of Baazeem Trading Co.

Baazeem Trading Co.’s shareholders will discuss the board’s recommendation to reduce the stock’s nominal value from SAR 10 to SAR 1 while maintaining the company’s capital intact during an extraordinary general meeting (EGM) on July 14, according to a statement to Tadawul.

 

Accordingly, the number of shares will increase from 10.13 million to 101.25 million.

 

For more news on listed companies

 

The proposal, if approved, will be applied to all shareholders of record who are registered with Edaa on the second trading day following the EGM date.

 

The decision will be applied to the stock price starting from the business day following the EGM.

 

Stock Split Details

Current Capital

SAR 101.25 mln

Current Number of Shares​

10.13 mln

Nominal Value

SAR 10 a share

New Capital

SAR 101.25 mln

New Number of Shares

101.25 mln

Nominal Value

SAR 1 a share

 

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