Etihad Etisalat Company (Mobily) announced the approval of the Board of Directors to purchase 2.5 million shares of the company’s shares for the purpose of allocating them to the company’s long-term employee incentive plan.
The company explained, in a statement on the Saudi Stock Exchange, today, Sunday, that the purchase process will be financed from the company's own resources.
She indicated that she does not currently own any treasury shares of the class of shares being purchased.
The company confirmed that the decision to purchase the shares will be voted on by the Extraordinary General Assembly, the date of which will be announced later.
She pointed out that she is committed to meeting all financial solvency requirements, and a report will be submitted by the company's legal accountant to that effect.
She also pointed out that the purchased shares do not have votes in the general assemblies of shareholders.
