Almarai GA Agrees to Purchase 10 mln Shares of Company

The Board of Directors of Almarai Company, a Listed Joint Stock Company (the “Company”), announced on Wednesday the results of the Extraordinary General Assembly Meeting (EGM), which was held by means of modern technology on 12th April 2022 at 10:00 p.m. after reaching the quorum of 82.131%.

Results of voting on the Assembly’s Agenda:

1. Approval of the purchase of up to 10 million shares and to allocate them within the Employee Share Participation Program. This is to be financed by the Company’s own resources, and to authorize the Board of Directors to complete the purchase in one or several tranches over a maximum period of twelve months from the date of the EGM resolution, as well as to authorize the Board of Directors to determine the conditions of this program, including the allocation price for each share offered to the designated employees. The purchased shares will be kept for maximum period of (10 years) from the date of EGM approval and at the lapse of this period the Company will follow the procedures and the regulatory rules in the relevant laws and regulations.