IssuerAnnouncementDetailsV2Portlet
Actions
Seera Group Holding Announces Board recommendation to buy-back its Shares
| Element List | Explanation |
|---|---|
| Introduction | Seera Group Holding Company announces the Board of Directors' recommendation to the Extraordinary General Assembly to approve the buyback of the Company’s shares of up to a maximum of 10% of the total shares of the Company, after the completion of the announced capital reduction process, for the purpose of retaining the shares as treasury shares. |
| Board of director’s recommendation date | 2025-06-18 Corresponding to 1446-12-22 |
| Purpose of Purchase | Hold the shares as treasury shares. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | Board of Directors finds that the share price in the market is less than its fair value. |
| Number of Shares to be Bought | 26917595 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | From the Company’s own resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | Current treasury shares represent (8.8%) of current share capital. As previously announced, subject to the approval of capital reduction through treasury shares cancellation, the remaining treasury shares would represent (0.18%) of share capital post reduction. |
| Approvals and Meeting the Conditions of Financial Appropriateness | The approval of the Extraordinary General Assembly will be obtained at its first upcoming meeting for the share repurchase, in accordance with the requirements of paragraph (4) of Article (17) of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. The financial solvency requirements set out in paragraph (3) of the same Article will also be met based on the solvency report to be issued by the Company’s external auditor. |
| Voting Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
| Additional Information | In addition to the recommendation to buyback the Company’s shares, the Board has recommended to the Extraordinary General Assembly to approve the reduction of the Company’s capital by way of cancellation of (25,951,348) ordinary shares of the current treasury shares, including (2,034,737) ordinary shares of the treasury shares allocated to the employee share program, at a total reduction equal to 8.65% of the Company’s capital before the reduction, and at a cancellation rate of 8.65 per 100 shares of the Company. |
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.
Share
Company Performance
Key Parameters
Last Price 21.34
Net Change -0.28 (-1.3%)
Value Traded (Sar) 12,647,052.71
Volume Traded 591,798
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions