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Astra Industrial Group announces the Board recommendations to buy-back a number of its shares and allocate them to its employee within the employee stock program
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ASTRA INDUSTRIAL
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1445/11/01 09/05/2024 08:48:24
| Element List | Explanation |
|---|---|
| Introduction | Astra Industrial Group Company announces the Board recommendations to buy-back its shares to retain them as Treasury Shares with a maximum of 300.000 thousand shares and not exceeding 0.375% of total issued shares |
| Board of director’s recommendation date | 2024-05-08 Corresponding to 1445-10-29 |
| Purpose of Purchase | Allocating them to the Employee Stock Incentive Program. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | To retain them as treasury shares for the purpose of allocating them to the Employee Stock Incentive Program. |
| Number of Shares to be Bought | 300000 |
| Shares Class and type | Ordinary Shares |
| Method of Financing the Purchasing Process | The Company’s own resources and/or using credit facilities |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | No treasury shares are held by the Group |
| Approvals and Meeting the Conditions of Financial Appropriateness | The resolution will be voted on in the extraordinary general assembly which will be announced later according to the requirements of the fourth paragraph of article seventeen of the implementing regulation of the companies' law for listed joint companies, and after satisfying solvency the Company as mentioned in the third paragraph of article seventeen of the implementing regulation of the companies' law for listed joint companies. |
| Voting Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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