View Assembly Approves Reducing Nominal Share Value to One Riyal

View United Real Estate Development Company announced on Wednesday the approval of the Extraordinary General Assembly Meeting (First Meeting) to split the nominal value of the share from 10 riyals to one riyal, so that the number of shares becomes 33 million instead of 3.3 million, with no change in the capital before and after the stock split.

It indicated that the split decision will be effective for all shareholders of the company who own shares on the day of the Extraordinary General Assembly Meeting and are registered in the Company’s shareholders’ registry at (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly Meeting in which the stock split was decided.

It explained that the effect of the decision will be applied to the share price starting from the business day following the Assembly Meeting, provided that the number of shares in the shareholders’ portfolios is applied at the end of the second trading day following the date of the meeting of the Extraordinary General Assembly in which the stock split was decided.

The Assembly also approved the participation of the Board Member and Chairman of the Audit Committee, Zaher bin Abdullah Al-Hajjaj (Board Member), in a work competing with the Company’s business.