Riyadh – Mubasher: The shareholders of Almarai Company approved during an extraordinary general meeting to purchase up to 10 million shares to earmark them for the Employee Stock Ownership Plan (ESOP).

Buying the shares will be financed by Almarai’s own resources, according to a disclosure to Tadawul on Wednesday.

The board of directors was authorised to complete the purchase through a single or several tranches within a maximum period of 12 months from 13 April 2021.

Almarai has registered net profits worth SAR 335.9 million during the fourth quarter (Q4) of 2020.