| Introduction |
Saudi Advanced Industries Company announces the approval of the Board of Directors by passing the recommendation of the Investment Committee to purchase the company’s shares of no more than 2.5 million shares (5%) of the company’s shares within 12 months, and to keep them as treasury shares, and the company will finance the purchase process through its financial resources And the credit facilities and the Board of Directors has also delegated the Managing Director the power to purchase at the appropriate price, provided that the recommendation is submitted to the Extraordinary General Assembly for voting. |
| Board Approval’s Date |
2022-06-29 Corresponding to 1443-11-30 |
| Purpose of Purchase |
keep them as treasury shares |
| Number of Shares to be Bought |
2500000 |
| Shares Class |
Ordinary Shares |
| Method of Financing the Purchasing Process |
The company will finance the purchase process through its financial resources and the credit facilities |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
The company does not currently have any treasury shares |
| Approvals and Meeting the Conditions of Financial Appropriateness |
This recommendation will be presented to the company’s extraordinary general assembly to obtain its approval, take the approval of the relevant authorities, and apply the terms and regulations for the purchase of treasury shares. |
| Voting Right |
Purchased shares will have no voting rights at the general assembly meetings. |
