Sahara International Petrochemical Co. (Sipchem) Announce the Result of Purchase for it’s Shares ( Third phase )
| Element List | Explanation |
|---|---|
| Introduction | Sahara International Petrochemical Co. (Sipchem) completed (third phase) of purchasing its own shares and holding them as treasury shares during the period from 01/01/2021 to 31/03/2021 in accordance with Capital Market Authority Implementing Regulations and with the approval of the Extraordinary General Assembly held on 29/4/2020 and announced in Tadawul on 30/4/2020 |
| Date of Posting the Approval of the General Assembly on the Purchase on Tadawul's Website | 2020-04-30 Corresponding to 1441-09-07 |
| Purchase Period | One year from the approval of the Extraordinary General Assembly |
| Number of the Purchased Shares | 1000000 |
| Value of the Purchased Shares | 20,479,034.22 |
| Average Purchase Price Per Share | 20.479 |
| Additional Information | As a result of the above share purchases, Sipchem currently holds (6,171,150) shares as treasury shares with an average purchase price per share of 16.18 SAR.
These share purchases are not expected to have any material financial impact on Sipchem’s financial results.
The number of purchased shares during the third phase doesn’t include the employees’ incentive program shares which is equal to 814,252 shares. |
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