| Element List |
Explanation |
| Introduction |
Allianz Saudi Fransi Cooperative Insurance Co. announces the approval of the Board of Directors to purchase a maximum of (866,000 Shares) with a maximum amount of (10,000,000 Saudi Riyals) with the aim of allocating it to the company’s Employee Long Term Incentive Plan |
| Board Approval's Date |
2023-06-15 Corresponding to 1444-11-26 |
| Purpose of Purchase |
To retain them as Treasury Shares under the Long term employee Incentive Plan |
| Number of Shares to be Bought |
866000 |
| Shares Class and type |
Ordinary shares |
| Method of Financing the Purchasing Process |
From the company’s fund |
| Approvals and Meeting the Conditions of Financial Appropriateness |
The resolution will be voted on in the extraordinary general assembly which will be announced later according to the requirements of the fourth paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements by the Company as mentioned in the third paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. |
| External Auditor's Report |
 |
| Voting Right |
Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
Comments