Watani Steel BOD recommends splitting nominal value of share from SAR 10 to 10 Halalas

Watani Iron and Steel Company announced the decision of the Board of Directors to divide the nominal value of the share from ten (10) riyals per share to ten (10) halalas per share while keeping the company’s capital unchanged so that the number of the company’s shares becomes 1.81 billion shares instead of 18.16 million shares, as stipulated in the bylaws and regulations and the completion of legal procedures.

The company will announce any material developments, if any, at the time.