Calculating the fluctuation rate for “Aqaseem” stock based on the price of 7.50 riyals

Yesterday, Sunday, the Extraordinary General Assembly of the Aqaseem Chemical and Plastic Materials Factory Company approved the division of the company’s shares.
According to Tadawul, the fluctuation rate for the company’s stock was calculated based on the price of 7.50 riyals for today, Monday 06/15/1446 AH, corresponding to 16/12/2024 AD, and the cancellation of existing orders.
The Securities Depository Center Company (SDC) will add the split shares to shareholders’ portfolios before the start of trading on Wednesday 06/17/1446 AH corresponding to 12/18/2024 AD.
The Board of Directors of the Aqaseem Chemical and Plastic Materials Factory Company announced the results of the extraordinary general assembly meeting (first meeting), which was held yesterday.
The results of the vote on the Assembly’s agenda included:
1- Approval of the Board of Directors’ recommendation to split the company’s shares according to the following:
• Nominal value of the share before adjustment: 10 riyals
• Nominal value of the share after adjustment: (1) riyals.
• Number of shares before amendment: (2,500,000) shares.
• Number of shares after adjustment: (25,000,000) shares.
• There is no change in the company’s capital before and after the stock split.
• Effective date: If the clause is approved, the split decision will be effective on all 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 Center Company (Depository Center) at the end of the second trading day following the date of the general assembly. Extraordinary share split decision was decided, and the effect of the decision will be applied to the share price starting from the business day following the meeting of the General Assembly, provided that the decision is implemented in relation to the number of shares in the shareholders’ portfolios on the second trading day following the date of the General Assembly meeting. The extraordinary decision in which he decided to split the shares.
• Amending Article 16 of the company’s bylaws related to (capital).
2- Approval to delete Article 7 from the company’s bylaws related to (subscription to shares).
3- Approval to delete Article 25 from the company’s bylaws related to (the powers of the president, deputy, managing director, and secretary).
4- Approval to delete Article 30 from the company’s bylaws related to (board members’ remuneration).