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Masraf Al Rayan stock split

Jun 16 2019

Masraf Al Rayan is pleased to announce to its shareholders and investors that, upon the instructions of Qatar Financial Markets Authority, the nominal value of all listed shares will be one Qatari Riyal per share. According to Circular No. (4)/2019 issued by Qatar Stock Exchange on 2/6/2019, the stock split of Masraf Al Rayan will be carried out after the end of trading session on Sunday 16 June 2019.

Mr. Adel Mustafawi, Group Chief Executive Officer, explained that the share split is a process whereby the share is divided into 10 shares, with the nominal value of the share being QAR 1, multiplied by the number of shares held 10 times, without any impact or change in shareholders' equity, and will not affect the total market value of a shareholder portfolio. The split of the stock will double the number of shares available for trading 10 time the existing level.

Mr. Mustafawi added that the share split will not affect the total cash dividends distributed to the shareholders and the net profit will remain the same.

The paid up capital will not change, while the book value per share will decrease due to the increase in the number of shares resulting from the split, with total shareholders' equity remaining unchanged.

There will also be no impact of the split on shareholder equity, which includes the paid-up capital, reserves and retained earnings. Therefore, the shareholder equity remains as it is before and after the split.

Dr Hussein Al-Abdullah, Board of Director’s Chairman and Managing Director, expressed his confidence that this measure will achieve its objectives by expanding the ownership base of listed companies as a result of the entry of a new segment of investors, who prefer to trade low-priced stocks.

It should be noted that, the Extraordinary General Assembly of Masraf Al Rayan approved at its meeting held on February 25, 2019, the proposed amendments to the Bank’s Articles of Association with the aim of adjusting the nominal value to one Qatari Riyal per share (QAR 1 per share/ instead of QAR 10) and to amend the relevant provisions of the Articles of Association in accordance with the decision of the Board of Directors of Qatar Financial Markets Authority "QFMA" in its fourth meeting for the year 2018 held on 16/12/2018 pertaining to the amendment of the nominal value of the shares of the companies listed in the main and secondary markets " emerging companies" in Qatar to become one Qatari Riyal (1) per share, effective today, June 16th 2019.

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