Al-Baha agrees to divide share nominal value from 10 riyals to 10 halalasAl-Baha agrees to divide share nominal value from 10 riyals to 10 halalas

Al-Baha Investment and Development Co. Announced on Wednesday the Results of the Extraordinary General Assembly Meeting (Second Meeting), which was held at 7:30 pm on Tuesday 04/07/2023 through modern technology using the Tadawulaty system.

And the voting Results on the Items of the General Assembly’s Meeting Agenda were as following:

1- Approving the amendment of Article (3) of the Company’s Articles of Association, which is related to the company’s objectives.

2- Approving the amendment of Article (6) of the company’s articles of association, related to the company’s term.

3- Approving the division of the company’s shares according to the following:

– Nominal value before modification: Ten (10) Saudi riyals.

– The nominal value after adjustment: ten halalas (0.10) Saudi riyals.

– The number of shares before the amendment: 29,700,000 shares, twenty-nine million seven hundred thousand shares.

– The number of shares after the amendment: 2,970,000,000 shares, two billion, nine hundred and seventy million shares.

– There is no change in the company’s capital before and after the stock split.

Effective date: The partition decision will be effective for all shareholders of the company who own shares on the day of the extraordinary general assembly and are registered in the company’s shareholder register at the Deposit for Securities Center (Edaa) at the end of the second trading day following the date of the extraordinary general assembly, and the effect of the decision will be applied On the share price starting from the business day following the meeting, provided that the decision is implemented with regard to the number of shares in shareholders’ portfolios on the second trading day following the date of the extraordinary general assembly meeting in which it was decided to divide the shares.

– Approval of amending Article (7) of the company’s articles of association related to capital.

– Approval of the amendment of Article (8) of the company’s articles of association related to subscription to shares.

4- Approving the amendment of Article (19) of the Company’s Articles of Association, related to the powers of the Board.

5- Approving the amendment of Article (21) of the Company’s Articles of Association related to the powers of the President, Vice President, Managing Director and Chief Executive Officer.

6- Approving the amendment of the company’s bylaws in line with the new companies’ bylaws, and rearranging and numbering the articles of the bylaws; to comply with the proposed modifications.