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Banque Saudi Fransi Announces Its Intention to Purchase its Shares

Default Company 1050.B 0.00% 0.00 0.00
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

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