Logo of Dar Almarkabah for Renting Cars Co.
The voting will be made during an extraordinary general meeting (EGM) on Nov. 11. 
In a statement to Tadawul, the company said the number of shares will decrease to 2.5 million from 50 million following the adjustment, while its capital will remain unchanged at SAR 25 million.
Reverse Stock Split Details
Current Capital
SAR 25 million
Current No. of Shares
50 million
Current Par value per Share
SAR 0.5
New Capital
SAR 25 million
New No. of Shares
2.5 million
New Par value per Share
SAR 10
The company clarified that, if approved, the share consolidation would apply to all shareholders who own the company’s shares on the date of the EGM and are registered in the company’s shareholder register maintained by the Securities Depository Center (Edaa) at the end of the second trading day following the EGM at which the share consolidation is approved.
It added that the impact of the decision on the share price would take effect on the business day following the EGM, while the revised number of shares would be reflected in shareholders’ portfolios at the end of the second trading day following the EGM at which the share consolidation is approved.
Shareholders will also vote on amending Article 6 of the company’s bylaws, which pertains to its capital.
According to data available with Argaam, Dar Almarkabah received a notice from Tadawul last August after the stock’s average closing price fell below the minimum threshold.
In September, the company’s board of directors recommended a 20-for-1 reverse stock split increasing the par value per share from SAR 0.50 to SAR 10.
Logo of Dar Almarkabah for Renting Cars Co.
The voting will be made during an extraordinary general meeting (EGM) on Nov. 11.
In a statement to Tadawul, the company said the number of shares will decrease to 2.5 million from 50 million following the adjustment, while its capital will remain unchanged at SAR 25 million.
Reverse Stock Split Details
Current Capital
SAR 25 million
Current No. of Shares
50 million
Current Par value per Share
SAR 0.5
New Capital
SAR 25 million
New No. of Shares
2.5 million
New Par value per Share
SAR 10
The company clarified that, if approved, the share consolidation would apply to all shareholders who own the company’s shares on the date of the EGM and are registered in the company’s shareholder register maintained by the Securities Depository Center (Edaa) at the end of the second trading day following the EGM at which the share consolidation is approved.
It added that the impact of the decision on the share price would take effect on the business day following the EGM, while the revised number of shares would be reflected in shareholders’ portfolios at the end of the second trading day following the EGM at which the share consolidation is approved.
Shareholders will also vote on amending Article 6 of the company’s bylaws, which pertains to its capital.
According to data available with Argaam, Dar Almarkabah received a notice from Tadawul last August after the stock’s average closing price fell below the minimum threshold.
In September, the company’s board of directors recommended a 20-for-1 reverse stock split increasing the par value per share from SAR 0.50 to SAR 10.
