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Advance International Company for Communication and Information Technology Announces an update on Recommendation of the Board of Directors to split the nominal value of the share
| Element List | Explanation |
|---|---|
| Introduction | A reference to the announcement of Taqaddam International Company for Communications and Information Technology published on the Stock Exchange website (Tadawul) on 09/18/1444 AH corresponding to 04/09/2023 AD regarding the Board of Directors' recommendation to split the nominal value of the share from ten riyals (10) per share to (0.50) fifty Hallelujah per share, so that the number of shares of the company after the amendment becomes (50,000,000) shares instead of (2,500,000) shares And in view of the approval of the Extraordinary General Assembly in its meeting held on 02-12-1444 AH corresponding to 20-06-2023 AD to increase the company’s capital from the amount of (25,000,000) riyals to the amount of (32,000,000) riyals and to increase the number of shares from (2,500,000) shares to (3,200,000) Arrow The company would like to announce to the shareholders the issuance of the Board of Directors’ decision on 12/18/1444 AH corresponding to 06/07/2023 AD amending the Board’s recommendation to the Extraordinary General Assembly regarding the splitting of the nominal value of the share to reflect the change in the capital and the number of shares, so that the recommendation becomes the new Board of Directors after the amendment As follows : Recommending the division of the nominal value of the share from ten riyals (10) per share to (0.50) fifty halalas per share, so that the number of the company’s shares after the amendment becomes (64,000,000) shares instead of (3,200,000) shares, with the company’s commitment to complete the necessary related procedures and directed by the Board Presenting the item to the Extraordinary General Assembly for voting, after completing the necessary requirements. Note that any developments will be announced in due course. |
| Previous Announcement | Recommendation of the Board of Directors to split the nominal value of the share |
| Date of Previous Announcement on Tadawul's Website | 2023-04-09 Corresponding to 1444-09-18 |
| Percentage of fulfilled achievement | do not apply |
| Event's Expected Completion Date | It is difficult to determine the expected completion date for this event at present. |
| Reasons for Exceeding the Announced End Date | do not apply |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no costs associated with the event during the current period, and the financial impact will be announced later, if any |
| Impact of the Delay on the Company's Financial Results | do not apply |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 2.62
Net Change 0.05 (+1.95%)
Value Traded (Sar) 13,102.64
Volume Traded 5,001
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