Tam Development Co. Announces Board recommendation to buy-back its Shares
| Element List | Explanation |
|---|---|
| Introduction | Tam Development Company announces the Board of Directors’ decision to recommend to the Extraordinary General Assembly the approval to purchase its shares, up to a maximum of 10,000 ten thousand shares, at a rate of (0.273%) of the number of issued shares, for the purpose of holding them as treasury shares. |
| Board of director’s recommendation date | 2025-12-15 Corresponding to 1447-06-24 |
| Purpose of Purchase | Keeping them as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | The board of directors believes that the share price in the market is less than its fair value. |
| Number of Shares to be Bought | 10000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | Company's own resources or bank facilities |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 9.638% |
| Approvals and Meeting the Conditions of Financial Appropriateness | The Board of Directors' recommendation will be presented to the upcoming Extraordinary General Assembly for approval, in accordance with paragraph (4) of Article (17) of the Implementing Regulations of the Companies Law pertaining to listed joint-stock companies.
The company will also comply with all solvency requirements stipulated in paragraph (3) of Article (17) of the same regulations, and a report issued by the company's auditor regarding its solvency will be submitted in accordance with the requirements of this paragraph. |
| Voting Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
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