Savola : Announces the Results of its Shares Buy-back (First Tranche)
09/13/2021 | 06:32am EDT
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
Within a maximum period of twelve (12) months from the date EGM's resolution.
Number of the Purchased Shares
Value of the Purchased Shares
Average Purchase Price Per Share
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.
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.