Dar Almarkabah Plans Reverse Split After Stock Price Warning
DAR ALMARKABAH 9577.SA | 0.00 |
On August 16, 2026, Dar Al Markabah for Renting Cars Co. announced that it received a notice from the Exchange regarding its stock's average closing price falling below the minimum threshold. The Company has been granted a three-month corrective action period beginning August 16, 2026, pursuant to paragraph (c) of Article 33 of the Listing Rules. To comply with the minimum closing price requirement, the Company plans to conduct a share consolidation (Reverse Split) targeting a closing price of no less than SAR 3, and will convene an Extraordinary General Assembly to vote on the Board's recommendation, unless the stock's closing price recovers to SAR 3 or above during this period. The consolidation will reduce the total number of shares while leaving the Company's share capital unchanged. The Company warns that failure to comply with Article 33 of the Listing Rules may result in suspension of trading of its listed securities.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97637&anCat=1&cs=9577&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.
