Electrical Industries GA decides amending BOD recommendation to split share nominal value

Electrical Industries Co. announced the decision of its Board of Directors regarding amending the recommendation referred to hereunder related to splitting the nominal value of share to reflect the changes in the capital with an increase from SAR 450 million to SAR 562.5 million and increasing the number of shares to become 1.12 billion shares instead of 56.25 million shares. The company is committed to completing the necessary related procedures

In reference to the Electrical Industries Company announcement on the Saudi Exchange website dated 22.05.2023 regarding the Board of Directors’ recommendation to the Extraordinary General Assembly to split the nominal value of share from (10) Riyals per share to Fifty Hallas (0.50) per share, and the number of the Company’s shares will become 900 million shares instead of 45 million shares. Whereas the Extraordinary General Assembly has approved in its meeting dated 21.06.2023 the increase of the Company’s capital from SAR 450 million to SAR 562.5 million and increasing the number of shares from 45 million shares to 56.25 million shares.