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Allied Cooperative Insurance Group (ACIG) announces the latest developments regarding the Board of Directors’ recommendation to split the nominal value of the share
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of the Allied Cooperative Insurance Group (ACIG) dated 28-10-1444 AH corresponding to 18-05-2023 AD regarding the Board of Directors’ recommendation to split the nominal value of the share Allied Cooperative Insurance Group (ACIG) announces that the Board of Directors decided on 22-05-1445 AH corresponding to 06-12-2023 AD to reverse its decision regarding the split of the nominal value of the share from ten riyals (10) riyals per share to 0.1 riyals (ten halalas) per share, and to continue At the current value of the share, which is 10 riyals per share, while continuing with the same number of shares, 29,100,000 shares, due to the futility of the share split decision after the Board of Directors’ recommendation to increase the company’s capital to 500,000,000 Saudi riyals on 19-10-2023 AD. |
| Previous Announcement | Allied Cooperative Insurance Group announces the Board of Directors’ recommendation to split the nominal value of the share |
| Date of Previous Announcement on Tadawul's Website | 2023-05-18 Corresponding to 1444-10-28 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Not applicable |
| Reasons for Exceeding the Announced End Date | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Impact of the Delay on the Company's Financial Results | Not applicable |
| Additional Information | Not applicable |
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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