Al-Khaleej Training and Education Company announces its intention to purchase a number of its shares
Element List | Explanation |
---|---|
Introduction | Al 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 Date | 2022-06-14 Corresponding to 1443-11-15 |
Purpose of Purchase | Keep 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 Bought | 300000 |
Shares Class | common shares |
Method of Financing the Purchasing Process | The 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 Purchased | There are no treasury shares at the moment |
Approvals and Meeting the Conditions of Financial Appropriateness | Extraordinary 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 Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
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