Saudi Top GA approves splitting share nominal value from SAR 10 to SAR 1

The Board of Directors of Saudi Top Trading Company announced the results of the Extraordinary General Assembly (Assembly Meeting) which Took place at 19:30 on Sunday, Oct. 8, 2023.

The results of voting on the assembly agenda are as follows:

– The company’s shares were approved to be divided according to the following:

• The nominal value of the share before adjustment (SAR 10).

• The nominal value of the share after adjustment is (SAR 1).

• Number of shares before amendment (4 million)

• Number of shares after adjustment (40 million).

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

The division decision will be effective on all of the company’s shareholders who own shares on the day of the extraordinary general assembly and who are registered in the company’s shareholder registry with the Securities Depository Centre Company (Depository Centre) at the end of the second trading day following the date of the extraordinary general assembly in which the shares were decided to divide. 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 is 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 related to capital.