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    2050   SA0007879162

SAVOLA GROUP COMPANY

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Savola : Announces the Results of its Shares Buy-back (First Tranche)

09/13/2021 | 06:32am EDT
ELEMENT LIST EXPLANATION
Introduction The Savola Group announces that it has completed the first tranche of its shares buy-back transaction on 09/09/2021, where the required number of the shares has been purchased to cover the 2nd tranche of the Employees' Long-Term Incentive Program (LTIP) and in accordance with the approved program criteria and terms. The total number of the purchased shares amounted to 349,076 shares out of 1,200,000 shares representing the maximum number of shares approved for buy-back by the Extraordinary Shareholders General Assembly (EGM). The Group will later consider the remaining shares that are held as treasury shares to be allocated for the 3rd tranche of the program before the lapse of the purchase period granted by the EGM to complete the buy-back transaction i.e. 12 months period as of the EGM's resolution issued in its meeting held on 28th April 2021.
Date of Posting the Approval of the General Assembly on the Purchase on Tadawul's Website 2021-04-29 Corresponding to 1442-09-17
Purchase Period Within a maximum period of twelve (12) months from the date EGM's resolution.
Number of the Purchased Shares 349076
Value of the Purchased Shares SR 13,924,773
Average Purchase Price Per Share 39.89 SR
Additional Information This comes as part of the Group's efforts to attract and retain key talents and to motivate them to further strengthen their performance to achieve the Group's strategic objectives.

Disclaimer

SAVOLA Group Company SJSC published this content on 12 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 10:31:03 UTC.


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Sales 2022 24 179 M 6 446 M 6 446 M
Net income 2022 879 M 234 M 234 M
Net Debt 2022 8 753 M 2 334 M 2 334 M
P/E ratio 2022 14,8x
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 36,25 SAR
Average target price 34,98 SAR
Spread / Average Target -3,51%
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Managers and Directors
Waleed Fatani Group Chief Executive Officer
Wajid Usman Khan Group Chief Financial Officer
Sulaiman Abdulkader A. Mohsin Al-Muhaidib Non-Executive Chairman
Al-Nour Ali Saad Secretary, Executive Director-Legal & Compliance
Mohammad Nasr Executive Director-Investment
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