AICTech GA agrees to split share nominal value from 10 riyals to 50 halalas

Advance International Company for Communication and Information Technology (AICTech) announced on Tuesday to its shareholders the results of the extraordinary general assembly meeting (first meeting), which was held at 7:00 pm on Monday, September 25, 2023, at the company’s main headquarters (in Riyadh, King’s Road). Fahd – through modern technological means using the Tadawulati service.

Voting Results:

1- Approval of the division of the company’s shares according to the following:

• Nominal value of the share before adjustment: (10) Saudi riyals

• The nominal value of the share after adjustment: (0.50) fifty Saudi halalas

• Number of shares before amendment: 3,200,000 shares

• Number of shares after adjustment: 64,000,000 shares

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

• Effective date: If the clause is approved, the division decision will be effective on all the company’s shareholders who own shares on the day of the extraordinary general assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the general assembly. Extraordinary shares in which it was decided to divide the shares.

The impact of the decision will be applied to the share price starting from the business day following the meeting, provided that the number of shares in the shareholders’ portfolios will be applied at the end of the second trading day following the date of the extraordinary general assembly in which the shares were decided to be divided.

• Amending Article No. (7) of the company’s bylaws relating to the company’s capital

• Amending Article No. (8) of the company’s bylaws related to subscription to shares.

2- Approval to amend Article (17) of the company’s bylaws related to the company’s management.