Zoujaj GA rejects proposal for company share division

The National Glass Industries Company “Zoujaj,” has disclosed the results of its extraordinary general assembly meeting (second meeting), revealing the rejection of the proposal regarding the division of the company’s shares.

In accordance with the company’s statement, the nominal value of each share before the proposed amendment stands at SAR 10, while post-amendment, it reduces to SAR 1. Prior to the amendment, the total number of shares amounted to 32.9 million, and following the proposed amendment, it increases to 329 million shares. It’s noteworthy that there is no alteration in the company’s capital before and after the proposed division process.

Moreover, the assembly granted authorisation to the Board of Directors for the distribution of interim dividends on either a semi-annual or quarterly basis for the fiscal year 2024. Additionally, the assembly approved the disbursement of SAR 1.6 million as remuneration to the members of the Board of Directors for the year 2024.