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Stocks Market
Managem Announces 10‑for‑1 Share Split Ahead of Extraordinary General Meeting
Moroccan mining giant Managem plans to cut the nominal value of its shares from 100 MAD to 10 MAD, effectively multiplying the share count tenfold. The proposal will be put to a vote at the Extraordinary General Meeting on June 25, 2026, and will be accompanied by a statutory amendment to reflect the new capital structure.
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Managem, Morocco's leading mining group, plans to reduce the nominal value of its shares tenfold, from 100 MAD to 10 MAD, pending approval at the Extraordinary General Meeting scheduled for June 25, 2026 at 10:00 am.
In accordance with Article 246 of Law 17‑95 on public limited companies, the split will multiply the number of issued shares by ten, raising the total from 11,864,676 to 118,646,760 shares of the same class and rights.
Each existing shareholder will receive ten new shares of 10 MAD each for every pre‑split share they hold. The company will also amend its statutes to reflect the new capital structure.
Why the split matters
- Improved liquidity: A lower price per share can attract a broader investor base.
- No change to market cap: The total equity value remains unchanged; only the share count and nominal value are adjusted.
- Regulatory compliance: The move follows Morocco's corporate law provisions.