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SADAFCO approves share purchase

SADAFCO approves share purchase
Saudia Dairy and Foodstuff Company
SADAFCO
2270
28.91% 387.00 86.80

Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) has approved the purchase of up to 2.75 million company shares to be used as treasury shares.

During the company’s extraordinary general assembly meeting (EGM), held on Tuesday, the majority of shareholders approved buying the shares and funding the purchase through the company’s own resources, according to a statement to the Saudi Stock Exchange (Tadawul).

The shareholders authorized the board of directors to finalize the purchase transaction, within a maximum period of 12 months.

Moreover, the meeting approved to hold the purchased treasury shares for up to 5 years.

After the elapse of this period, the company will follow the necessary relevant rules and regulations.