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Arabian Cement Company Announces its Board of Directors Recommendation to Buy-back its Shares
3010
ACC
-1.45
%
1446/10/30 28/04/2025 08:03:15
| Element List | Explanation |
|---|---|
| Introduction | Arabian Cement Company announced its Board of Directors recommended a share buy-back of up to (150,000) shares, representing (0.15%) of the company’s ordinary shares. |
| Board of director’s recommendation date | 2025-04-27 Corresponding to 1446-10-29 |
| Purpose of Purchase | Retain them as Treasury Shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | Retaining them as treasury shares within the framework of the long-term employee incentives program (LTIP), which aims to attract and retain distinguished talents. |
| Number of Shares to be Bought | 150000 |
| Shares Class and type | Ordinary Shares |
| Method of Financing the Purchasing Process | The financing of the purchase process will be from the company's own resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | The company does not currently have any treasury shares |
| 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 | The purchased shares will have no voting power in the shareholders General assemblies |
| Additional Information | The shares will be purchased within a period not exceeding twelve months (12) from the date of the Extraordinary General Assembly approval, and if approved, the company will retain the purchased shares for a period not exceeding five (5) years from the date of the approval of the Extraordinary General Assembly. |
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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Last Price 23.1
Net Change -0.34 (-1.45%)
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