stc completes purchasing 11.59 million of its shares allocated to ‎employee incentive program ‎

The Saudi Telecom Company (stc) stc announced that on Tuesday it had completed its purchase of the required amount of its shares allocated to the employee incentive shares program, indicating that its completion of the required shares purchase process came in one stage only and that no additional shares would be purchased during the specified purchase period.

The company said in a statement today on “Tadawul” that the number of shares purchased amounted to 11,587,718 shares, while the value of the purchased shares amounted to 452,999,995.58 riyals, with an average purchase price per share of 39.16 riyals.

It explained that the shares allocated to the employee incentive shares program will not be entitled to any dividends during the company’s retention period

This comes based on the approval of the Extraordinary General Assembly, which was held on 03-2-1444 AH corresponding to 30-8-2022 AD, the results of which were published on the Tadawul website on 04-2-1444 AH corresponding to 31-8-2022 AD.