| Element List |
Explanation |
| Introduction |
The Company for Cooperative Insurance (TAWUNIYA) announces the board of directors' approval to purchase a number of the Bank shares with a maximum of (147,435) shares to allocate them within the Employee Stock Incentive Plan. |
| Board of director’s recommendation date |
2024-05-12 Corresponding to 1445-11-04 |
| Purpose of Purchase |
Allocating them to the Employee Stock Incentive Long Term Plan. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
To retain them as treasury shares for the purpose of allocating them to the Employee Stock Incentive Long Term Plan. |
| Number of Shares to be Bought |
147435 |
| Shares Class and type |
Ordinary shares |
| Method of Financing the Purchasing Process |
From the company’s fund |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
0% |
| 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 TAWUNIYA as mentioned in the third paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. |
| Voting Right |
Purchased Shares Shall not have Voting Rights in the General Assembly’s Meetings. |
| Attached Documents |
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