Canadian Medical Center shareholders nod to reducing nominal value to SAR 1/share

Logo of Canadian Medical Center Co. (CMCER)

Shareholders of Canadian Medical Center Co. (CMCER) approved the board’s recommendation on reducing the stock’s nominal value to SAR 1 from SAR 10 during the extraordinary general meeting (EGM) held on June 20.

CMCER’s capital will see no change after the stock split, the company said in a filing to the Saudi Exchange (Tadawul).

Stock Split Details
Current Capital	SAR 77 mln
Current Number of Shares	7.7 mln
Nominal Value	SAR 10/share
Capital After Stock Split	SAR 77 mln
New Number of Shares	77 mln
Nominal Value after Stock Split	SAR 1/share
Effective Date	June 20, 2023 (Shareholders registered with Edaa by the close of the second trading day after the EGM).
Application Date	The number of shares in shareholder portfolios will be adjusted accordingly on the second trading day following the EGM.

The board was also authorized to pay interim dividends on a semi-annual or quarterly basis for 2023.

In a separate statement, Tadawul said the fluctuation limit was based on a share price of SAR 5.90 today, June 21. Outstanding orders were canceled.

Edaa will deposit the stock-split shares in investor portfolios before the start of trade on July 2.

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