Fesh Fash shareholders approve 10-for-1 stock split

02/07/2023 Argaam

Fesh Fash shareholders approve 10-for-1 stock split

Logo of Fesh Fash Snack Food Production Co.

Fesh Fash Snack Food Production Co.’s shareholders approved the board of directors’ recommendation to reduce the stock's par value from SAR 10 to SAR 1, during extraordinary general meeting (EGM) held on June 22.

 

Stock Split Details

Current Capital

SAR 11.30 mln

Number of Shares

1.13 mln

Share Par Value

SAR 10/share

New Capital

SAR 11.30 mln

New Number of Shares

11.30 mln

Par Value After Stock Split

SAR 1/share
 
In a statement to Tadawul, the company said the decision will be applicable on all shareholders on the day of EGM, and those registered with Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.
 

The stock split will apply to the share price as of the business day following the EGM, and the number of shares will be adjusted in shareholder portfolios on the second trading day following the EGM date.

 

In a separate statement, Tadawul announced that the stock’s fluctuation limits will be based on a share price of SAR 17.50 for today, July 2. Accordingly, the outstanding orders will be canceled.

 

Edaa will deposit the split shares into the investor’s portfolios by July 4, the statement added.

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