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Saudi Fransi to purchase shares for LTIP programme

Saudi Fransi to purchase shares for LTIP programme
The purchased shares will be retained as treasury shares
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1050.B
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Riyadh – Mubasher: The board of Banque Saudi Fransi (BSF) has approved purchasing a number of the company’s shares with a maximum of 3 million shares, to allocate them within the employee long-term incentive plan (LTIP).

The purchased shares will be retained as treasury shares under the LTIP programme, according to a statement to the Saudi Stock Exchange (Tadawul).

The current percentage of the treasury shares at the company out of the total class of shares purchase stands at 0.471%.

Financing the purchasing process will be from the bank's own resources, the statement noted.