Atlas Elevators: BOD recommended purchasing 300,000 shares and keeping them as treasury shares

Atlas Elevators General Trading and Contracting Company announced the Board of Directors (BOD) decision to recommend to the Extraordinary General Assembly to approve the purchase of its shares, up to a maximum of 300 thousand shares of its shares, (equivalent to 5% of the company’s total shares), for the purpose of keeping them as treasury shares.

The company confirmed that the BOD believes that the share price in the market is less than its fair value, indicating that the purchase will be financed from the company’s own resources.

The company indicated that the purchased shares do not enjoy votes in the shareholders’ assemblies.