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Bupa Arabia for Cooperative Insurance Co. Announces its intention to purchase a number of its own shares to allocate them to the employees’ Long Term Incentive Plan.
8210
BUPA ARABIA
-0.90
%
1446/11/27 25/05/2025 15:35:50
| Element List | Explanation |
|---|---|
| Introduction | Bupa Arabia for Cooperative Insurance Co. announces the Board of Directors recommendation to purchase a number of its own shares, which shall not exceed (1,400,000) share to allocate them to the employees’ Long Term Incentive Plan cycles from 2025 to 2029. |
| Board of director’s recommendation date | 2025-04-23 Corresponding to 1446-10-25 |
| Purpose of Purchase | To allocate them to the employees’ Long Term Incentive Plan. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | To allocate them to the employees’ Long Term Incentive Plan. |
| Number of Shares to be Bought | 1400000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | The purchase of these shares will be funded through the company internal resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 0.43% |
| 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 Stock Companies, and after satisfying solvency requirements by the Company as mentioned in the third paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock 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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