The General Assembly of “Anbeeb” approves the Board of Directors’ recommendation to split the company’s shares

The Arab Pipe Company announced the results of the extraordinary general assembly meeting (second meeting), which was held yesterday, Wednesday.
The company said in a statement on the Saudi Tadawul: 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:-
* The nominal value of the share before adjustment: (10) riyals.
* The nominal value of the share after adjustment: (1) one riyal.
* Number of shares before amendment: 15,000,000 shares.
* Number of shares after adjustment: 150,000,000 shares.
* There is no change in the company’s capital before and after the stock split.
* Effective date: 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 at the Securities Depository Center (Edaa) at the end of the second trading day following the date of the extraordinary general assembly on which the stock split was decided. .
It noted that the effect of the decision will be applied to the share price starting from the business day following the meeting, provided that the decision will be applied regarding the number of shares in the shareholders’ portfolios on the second trading day following the date of the extraordinary general assembly in which the stock split was decided.
* Amending Article No. (7) of the company’s bylaws related to capital.