| Element List |
Explanation |
| Introduction |
Saudi AZM for Communication and Information Technology Co. announces the issuance of its board of directors’ decision to recommend to the extraordinary general assembly to buy its shares and keep them as treasury shares with a maximum limit of (1,000,000) shares and an amount not exceeding (20,000,000) Saudi riyals |
| Board of director’s recommendation date |
2024-03-05 Corresponding to 1445-08-24 |
| Purpose of Purchase |
Keep them as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
They will be kept as treasury shares and allocated to the company's employees within the employee stock program |
| Number of Shares to be Bought |
1000000 |
| Shares Class and type |
Ordinary Shares |
| Method of Financing the Purchasing Process |
The purchase of these shares will be funded through the company internal resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
%0,011 |
| Approvals and Meeting the Conditions of Financial Appropriateness |
Extraordinary General Assembly Approval must be Obtained for the shares buy-back transaction, also financial solvency requirements contained in Implementing Regulations issued pursuant to the Companies Law shall be fulfilled |
| Voting Right |
Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
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