‎Saudi Azm board recommends buyback of 100,000 treasury shares


Saudi Azm impress

The board of administrators of Saudi Azm for Communication and Knowledge Technology Co. rapid hunting for advantage 100,000 treasury shares maximum, at a mark no longer exceeding SAR 20 million, according to a bourse filing.

The shares will be allocated to the firm’s workers as fragment of the employee stock program. Azm has the lawful to pledge and sell these shares, when compulsory, according to the guidelines of the Capital Market Authority and Tadawul and other relevant guidelines.

The repurchase route of would possibly perchance perchance be financed from the firm’s inside of sources. Azm must invent the approval of the unheard of unique assembly and fulfill the wanted prerequisites below the Companies Law.

The repurchased shares is just not any longer going to contain vote casting rights in the popular assembly meetings, Azm added in the assertion.