Dallah healthcare company announces its desire to buy its shares
| Element List | Explanation |
|---|---|
| Announcement Detail | Dallah healthcare company announces the board of director’s resolution (Resolution scrolling) to acquire up to 5% of its ordinary shares and keeping the shares as treasury stocks. 1. Date of board of directors approval: 03/02/2019 2. Purpose of buying back: Keep them as treasury stocks. 3. Reason of buying back: Current market value of the share is below fair value. 4. Number and type of shares to be acquired: up to 5% of company’s ordinary stocks (equivalent to 2.950.000 ordinary shares or 3.750.000 ordinary shares in case of obtaining approval of next extraordinary general assembly for capital raise from SR 590.000.000 to SR 750.000.000 by granting free shares). 5. Financing methodology: Self finance through company’s cash flow. 6. Percentage of current treasury stocks to proposed acquisition: there is no treasury stocks available in the company. 7. Voting for this resolution would take place during the coming extraordinary general assembly as per the requirements of companies Law concerning listed joint stocks companies (article number 12/4). 8. Solvency requirements as per regulatory rules and procedures issued in execution to companies Law concerning listed joint stocks companies (article number 12/3), this will be submitted by chartered accountant report. 9. The proposed shares to be acquired have no voting power in assemblies relating to shareholders. |
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