Etihad Etisalat Co. (Mobily) announces its intention to purchase its shares for allocation to the Company’s Long-Term Incentive Plan
| ement List | Explanation |
|---|---|
| Introduction | Etihad Etisalat Co. (Mobily) announces the Board of Directors’ approval to purchase (2,500,000) shares of its own shares for allocation to the Company’s Long-Term Incentive Plan. |
| Board of director’s recommendation date | 2024-03-07 Corresponding to 1445-08-26 |
| Purpose of Purchase | Long-Term Incentive Plan. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | To be allocated to the Company’s Long-Term Incentive Plan. |
| Number of Shares to be Bought | 2500000 |
| Shares Class and type | Ordinary shares. |
| Method of Financing the Purchasing Process | The Company’s own resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 0 |
| Approvals and Meeting the Conditions of Financial Appropriateness | The resolution to purchase the shares will be voted on during the upcoming Extraordinary General Assembly, the date of which will be announced later, in accordance with the requirements of Paragraph 4 of Article 17 of the Implementing Regulations of the Companies Law for Listed Joint Stock Companies.
According to the requirements of Paragraph 3 of Article 17 of the Implementing Regulations of the Companies Law for Listed Joint Stock Companies, Mobily shall fulfill all the solvency conditions mentioned in the aforementioned paragraph, and a report will be submitted by the Company’s external auditor to that effect. |
| Voting Right | Purchased shares shall not have voting rights in the General Assembly’s Meetings. |
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