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Saudi Industrial Investment Group Announces Board recommendation to buy-back its Shares
| Element List | Explanation |
|---|---|
| Introduction | Saudi Industrial Investment Group (SIIG) announces the Board of Directors' recommendation to the Extraordinary General Assembly to purchase a number of the company's shares, with a maximum of (10,000,000) shares. |
| Board of director’s recommendation date | 2026-03-11 Corresponding to 1447-09-22 |
| Purpose of Purchase | To be held as Treasury Shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | The Board of Directors considers that the Company's market share price is below its fair value. |
| Number of Shares to be Bought | 10000000 |
| Shares Class and type | Ordinary Shares. |
| Method of Financing the Purchasing Process | The purchase will be financed through the company’s internal resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 1.62% |
| Approvals and Meeting the Conditions of Financial Appropriateness | - The approval of the Extraordinary General Assembly (EGA) shall be obtained at the next EGA meeting for the share purchase, as per the requirements of sub-article (4) of Article (17) of the Implementing Regulations of the Company Law for Listed Joint Stock Companies. - The Company will also adhere to the solvency requirements set out in sub-article (3) of Article (17) of the Implementing Regulations based on a Solvency Report that will be issued by the Company’s external auditors. This report will be attached to the EGA invitation approving this transaction in accordance with the regulations. |
| Voting Right | The purchased shares will not have voting rights in the 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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Value Traded (Sar) 12,740,633.61
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