| Element List |
Explanation |
| Introduction |
Bank Albilad announces its intention to purchase a number of its own shares |
| Board Approval's Date |
2022-12-12 Corresponding to 1444-05-18 |
| Purpose of Purchase |
To be held as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
To be allocated within Employee Shares Program |
| Number of Shares to be Bought |
5000000 |
| Shares Class |
Ordinary shares |
| Method of Financing the Purchasing Process |
From the Bank’s internal resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
0.36% |
| Approvals and Meeting the Conditions of Financial Appropriateness |
Voting on the BoD resolution would take place during the upcoming extraordinary general assembly which will be announced later as per the requirements of Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies (Paragraph 4 of Article 12). The Bank shall fulfil all the Solvency requirements mentioned in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies (Paragraph 3 of Article 12) a report from the external auditor will be submitted as per the requirements of this paragraph. |
| Voting Right |
Purchased shares will not have any voting rights in any general assembly meetings |
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