SNB to purchase 16,000,000 shares its shares to allocate them to Key Employees Equity Program

The Saudi National Bank announces the Board of Directors’ recommendation to purchase a number of the Bank shares with a maximum of (16,000,000) shares to allocate them to the Key Employees Equity Program.
The bank said that financing the purchasing process will be through the Bank’s own resources.
The resolution will be voted on in the next Extraordinary General Assembly which will be announced later in accordance with the requirements of the fourth paragraph of Article seventeen of the Implementing Regulations of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements by the Bank as stipulated in the third paragraph of Article seventeen of the Implementing Regulations of the Companies Law for Listed Joint Stock Companies.