Americana Restaurants International PLC announced that the Abu Dhabi Securities Exchange has approved its share buyback program.
The company stated in a statement on Tadawul today, Wednesday, that it obtained the approval of the Abu Dhabi Securities Market to repurchase 25 million shares listed on the Abu Dhabi Securities Market.
She pointed out that these shares will be repurchased from the open market in Abu Dhabi and will be allocated to eligible employees according to the terms stipulated in the long-term incentive plan.
It also noted that it will repurchase shares in multiple installments over an extended period of time starting after August 8, 2024.
The company stated that the share purchase process was approved by the company's general assembly, which held its meeting on April 24, 2024.
