Mubasher: Gulf International Services (GIS) on Monday announced that its shareholders had approved the split of the share’s nominal value to QAR 1 from QAR 10 during an extraordinary general meeting (EGM).
The Qatari firm’s capital reaches QAR 1.86 billion, distributed over 185.84 million shares.
GIS’ EGM also approved the proposal of the board of directors for not distributing cash dividends for the fiscal year ended 31 December 2018, according to the company’s statement to the Qatar Stock Exchange (QSE).
In February, GIS reported turning to loss, incurring QAR 98 million in 2018, compared to a profit of QAR 85 million in the prior year.
By 12:57 pm Qatar time, GIS’ stock fell 2.71% to QAR 14.17.
