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Nofoth Food Products Co. Announces Board recommendation to buy-back its Shares
2288
NOFOTH
-1.13
%
1447/02/10 04/08/2025 08:22:44
| Element List | Explanation |
|---|---|
| Introduction | Nofoth Food Products Company announces the Board of Directors’ recommendation to purchase a number of the company’s shares, with a maximum of 2.4 million shares, for the purpose of allocating them to the Employee Stock Program. |
| Board of director’s recommendation date | 2025-08-03 Corresponding to 1447-02-09 |
| Purpose of Purchase | To be held as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | To be allocated within Employee Shares Program |
| Number of Shares to be Bought | 2400000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | The purchase will be funded through the company’s own resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | The current treasury shares held by the company represent 30.55% of the total class of shares intended for purchase. |
| Approvals and Meeting the Conditions of Financial Appropriateness | This recommendation will be presented to the next Extraordinary General Assembly meeting, which will be announced at a later date, for voting in accordance with regulatory requirements. The financial solvency conditions will also be fulfilled through a report to be issued by the company's external auditor and attached to the invitation to the Extraordinary General Assembly meeting that will vote on this recommendation, as required by law. |
| Voting Right | Purchased shares will not have any voting rights in any general assembly 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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