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Al-Khaleej Training and Education Company announces its intention to purchase a number of its shares

Al-Khaleej Training and Education Company announces its intention to purchase a number of its shares

Element ListExplanation
IntroductionAl Khaleej Training and Education Company announces its intention to purchase a number of its shares to keep as treasury shares within the framework of the long-term employee incentives program for senior executives of the company,
Board Approval’s Date2022-06-14 Corresponding to 1443-11-15
Purpose of PurchaseKeep it as treasury stock
Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)Retaining them as treasury shares within the framework of the long-term employee incentives program, which aims to attract and retain distinguished talent and cadres and motivate them for further performance, which contributes to achieving the company’s goals
Number of Shares to be Bought300000
Shares Classcommon shares
Method of Financing the Purchasing ProcessThe purchase will be financed from the company’s own resources
Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares PurchasedThere are no treasury shares at the moment
Approvals and Meeting the Conditions of Financial AppropriatenessExtraordinary General Assembly Consent must be Obtained for the Purchase, also Conditions of Financial Appropriateness as provided in Paragraph Three of Article Twelve of the Regulatory Standards and Procedures Issued Pursuant to the Companies Law shall be Met
Voting RightPurchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings

 

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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