The Savola Group Announces the Results of its Shares Buy-back (Sconed Phase)
|Introduction||The Savola Group announces that it has completed the second phase of its shares buy-back transaction on 10/02/2022, where the required number of the shares has been purchased to cover the 3rd tranche of the Employees’ Long-Term Incentive Program (LTIP) and in accordance with the approved program criteria and terms. |
The total number of the purchased shares for the second phase amounted to 637,955 shares. This brings the total number of the purchased shares for the first and the second phases to 987,031 shares out of 1,200,000 shares that represents the maximum number of the shares approved for the buy-back by the Extraordinary Shareholders General Assembly (EGM). With the note that the purchase period granted by the EGM to complete the buy-back transaction is 12 months period as of the EGM’s approval granted in its meeting held on 28th April 2021.
|Date of Posting the Approval of the General Assembly on the Purchase on Tadawul's Website||2021-04-29 Corresponding to 1442-09-17|
|Purchase Period||Within a maximum period of twelve (12) months from the date EGM’s resolution.|
|Number of the Purchased Shares||637955|
|Value of the Purchased Shares||SR 21,427,933.60|
|Average Purchase Price Per Share||33.59 SR|
|Additional Information||This comes as part of the Group’s efforts to attract and retain key talents and motivate them to further strengthen their performance to achieve the Group’s strategic objectives.|
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