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 |
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.