The “Dar Al -Makbah” general assembly agrees to divide the nominal value of the share to 0.5 riyals

The Board of Directors of the Dar Al -Makbah Auto Rental Company announced the results of the extraordinary general assembly meeting (the first meeting), which was held yesterday, Wednesday.
The company said in a statement on Saudi Arabia’s circulation: The results of the voting on the association’s agenda included:
1. Approval of the recommendation of the Board of Directors to divide the company’s shares according to the following:
• The nominal value of the share before the amendment: (10) riyals.
• The nominal value of the share after the amendment: (0.5) riyals.
• The number of shares before the amendment: (2,500,000) shares.
• The number of shares after the amendment: (50,000,000) shares.
• There is no change in the company’s capital before and after the shares of shares.
• Date of access: In the event of approval of the item, the retail decision will be effective to all the shareholders of the company who owned shares on the day of the extraordinary general assembly enrolled in the company’s shareholders’ record with the Securities Depository Center (the deposit center) at the end of the second trading day that follows the date of the General Assembly The unusual in which he decided to divide the stock, and the impact of the decision will be applied to the share price starting from the day following the association, provided that the decision is applied for the number of shares in the shareholders’ governor on the second trading day that follows the date of the extraordinary general assembly in which he decided to divide Arrows.
• Amending Article Seven of the company’s basic system related to (capital).
2. Approval of the approval of the work of the rewards and nominations committee.
3. Approval of adopting the policy of competing business standards and controls.
4. Approval of amending the policy of rewards for the members of the Board of Directors, the committees emanating from it and the executive management.
5. Approval of the amendment of Article (35) of the company’s basic system, related to (profit distribution).
6. Approval of transferring the full balance of the company’s regular reserve balance (1,051,185) riyals, as well as in the financial statements for the year ending 12/31/2023 AD to the profit account account and its calculation within the fiscal year ending on December 31, 2024 AD.