Shams Receives Notice That Average Closing Price of Share Has Fallen Below Minimum Limit

Tourism Enterprises Company (Shams) announced on Sunday that it received a notice from the Saudi Tadawul Group that the average closing price of the share has fallen below the minimum limit. The following points should be noted:

– The deadline for the Company to take corrective action:

The deadline for the Company to take corrective action begins on Sunday, July 20, 2025, and will last for three months, in accordance with Paragraph (c) of Article Thirty-Three of the Listing Rules.

• Measures the Company will take to comply with the minimum average closing price requirements:

Taking into account the share merger controls stipulated in the Companies Law’s Executive Regulations for listed joint-stock companies, and in an effort to maintain the minimum closing price per share, the Company will merge the shares to achieve a closing price of no less than SAR 3 per share. An Extraordinary General Assembly will be held to vote on the Board’s recommendation to merge the shares, unless the closing price of the share rises to SAR 3 or more within this period.

The Company added that the Company’s shares will be merged, thereby reducing the total number of shares. The merger will reflect the new share value, with no change in the Company’s capital.

It should be noted that if the Company fails to comply with the provisions stipulated in Article 33 of the Listing Rules, the Company will be subject to “Procedures for Suspending Trading of Listed Securities in Accordance with the Listing Rules,” and the exchange will allow trading of the Company’s shares over the counter. The Company affirms its commitment to implementing the necessary procedures to comply with the minimum average closing price requirements.

It also affirmed its full commitment to disclosing any material developments as soon as they occur