Element List |
Explanation |
Introduction |
Banque Saudi Fransi announces the board of director’s approval to purchase a number of the company’s shares with a maximum of (3,000,000) shares, to allocate them within the Employee Long-Term Incentive Plan. |
Board Approval's Date |
2020-04-16 Corresponding to 1441-08-23 |
Purpose of Purchase |
To retain them as Treasury Shares under LTIP Program |
Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
To retain them as Treasury Shares under LTIP Program |
Number of Shares to be Bought |
3000000 |
Shares Class |
Ordinary Shares |
Method of Financing the Purchasing Process |
From the Bank's own resources |
Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
0.471% |
Approvals and Meeting the Conditions of Financial Appropriateness |
Extraordinary General Assembly Consent must be Obtained for the Purchase, also Conditions of Financial Appropriateness as provided in Paragraph Three of Article Twelve of the Regulatory Standards and Procedures Issued Pursuant to the Companies Law shall be Met |
Voting Right |
Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
Comments