Tuesday, 28 May 2024

SPM agrees to buy company’s shares, with a maximum of 1 mln shares, to keep it as treasury shares


اقرأ المزيد

The board of directors of the Saudi Paper Manufacturing Company announced on Monday the results of the Extraordinary General Assembly meeting (the first meeting), which was held on Sunday 01/29/2023, online, and the percentage of Attending Shareholders is 55.58%
The Voting Results of the Assembly Agenda:
– Approving the recommendation of the company’s board of directors to buy the company a number of its shares, up to a maximum of (1,000,000) of its shares, and keep them as treasury shares since the market value of the company’s shares is less than its fair value,
The Board of Directors has been authorised to complete the purchase process within a maximum period of twelve months from the date of the extraordinary general assembly’s decision, and the company will keep the purchased shares for a maximum period of five years as a maximum from the date of the extraordinary general assembly’s approval.