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Altharwah Albashariyyah Co. Announces the Board of Directors’ Recommendation to Buy-back its Shares
9606
THARWAH
-1.20
%
1446/11/20 18/05/2025 08:02:30
| Element List | Explanation |
|---|---|
| Introduction | Altharwah Albashariyyah Co. announces the Board of Directors’ resolution to recommend to the Extraordinary General Assembly the approval to buy-back up to 200,000 shares of the Company’s own shares, representing 4.25% of the Company’s total shares, for the purpose of retaining them as treasury shares. The Company undertakes to ensure that the buy-back and allocation of treasury shares shall be carried out in a manner that does not result in a breach of the public ownership percentage of the Company’s listed shares, in accordance with the regulations of the Capital Market Authority, the Capital Market Law, and all applicable laws and regulations in the Kingdom of Saudi Arabia. |
| Board of director’s recommendation date | 2025-05-15 Corresponding to 1446-11-17 |
| Purpose of Purchase | The purpose of the buy-back is to retain the shares as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | The purchased shares will be retained as treasury shares, with the intention of using them in share-swap transactions as part of the acquisition of Amjad Watan for Exhibitions and Conferences. A portion may also be allocated in the future to the Company’s employees under a long-term incentive program |
| Number of Shares to be Bought | 200000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | The buy-back will be financed using the Company’s internal resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | None |
| Approvals and Meeting the Conditions of Financial Appropriateness | The buy-back is subject to the approval of the Extraordinary General Assembly, as well as the fulfillment of the financial solvency requirements stipulated in the Implementing Regulations of the Companies Law for listed joint stock companies |
| Voting Right | The buy-back shares shall not carry voting rights in shareholders' assemblies |
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 39.5
Net Change -0.48 (-1.2%)
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