Mulan Board Proposes Share Merger
The Board of Directors of Malan Steel Products Company has recommended approving the amendment of the nominal value of the share from 1 Riyal to 10 Riyals. They also proposed consolidating every 10 shares into a single share, with no change to the total capital of 26.6 million Riyals. This will reduce the total number of shares from 26.6 million to 2.66 million, while maintaining the capital, in order to restructure the number of shares and the nominal value. This is subject to completing the necessary legal procedures and regulatory approvals, and the recommendation will be presented to the shareholders for approval.
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