The Ordinary General Assembly of Jarir Marketing Company shareholders, which held its meeting yesterday, Tuesday, May 30, 2023, approved all topics on the agenda.
According to the company’s statement, on the Saudi Stock Exchange’s website, Tadawul, today, Wednesday, it was approved to split the nominal value of the share from 10 riyals to one riyal per share.
The company noted that the number of shares will increase from 120 million shares to 1.2 billion shares, and there is no change in the company's capital before and after the division process.
She also pointed out that the division decision will be effective on all shareholders of the company who own shares on the day of the assembly, and are registered in the company's shareholder register with the Deposit Center Company, at the end of the second trading day following the date of the assembly.
The assembly’s agenda included approving the transfer of the statutory reserve balance of 393.96 million riyals, as in the financial statements for the fiscal year 2022, to retained earnings.
During the meeting, the Assembly approved the auditor's report for the fiscal year 2022, and the discharge of the members of the Board of Directors for that period, in addition to disbursing 2.65 million riyals as a reward for the Board of Directors.
It was approved to amend a number of articles of the company's articles of association, in addition to reviewing the rest of the items on the assembly's agenda.
