‎“Tadweer” GA Oks dividing share nominal value from 10 riyals ‎to one riyal

The Board of Directors of National Environmental Recycling Co. announced the results of the Extraordinary General Assembly meeting (the first meeting), which was held yesterday, corresponding to April 5, 2023 AD, at 10:15 through modern technology.

Voting results:

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

_ Nominal value of the share before the amendment: (10) riyals.

_ Nominal value of the share after the adjustment: (1) riyals.

_ Number of shares before the amendment: 5,808,000 shares

_ Number of shares after modification: 58,080,000 shares

_ No change in the company’s capital before and after the stock split process

Effective date: In the event that the clause is approved, the division 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 with the Securities Depository Center Company (Edaa) at the end of the second trading day Following the date of the Extraordinary General Assembly in which it was decided to divide the shares.

The effect of the decision will be applied to the share price starting from the working day following the assembly meeting, provided that the number of shares in shareholders’ portfolios will be applied at the end of the second trading day following the date of the extraordinary general assembly meeting in which it was decided to divide the shares.

– Amendment of Article No. (7) of the company’s bylaws related to (the company’s capital).

– Amendment of Article No. (8) of the company’s bylaws related to (subscription in shares).

– Approval of amending Article (20) of the company’s basic system related to (the powers of the board).

– Approval of amending Article (22) of the company’s bylaws related to (the powers of the president, deputy, managing director, and secretary).

– Approval of the amendment of Article (48) of the company’s basic system related to (dividend distribution).

– Approval of amending the articles of association in line with the new corporate law

– Approving the rearrangement and numbering of the articles of the company’s bylaws; to comply with the proposed amendments in the above clauses, if approved