Riyadh Cables GA approved purchase of 500, 000 of company shares and allocate them to Employee Incentive Plan

Riyadh Cables Group Company announced on Sunday its intention to purchase 500 thousand shares of its own shares to be allocated to the Employee Long-Term Stock Incentive Plan.

The company stated on Sunday on Tadawul that extraordinary general assembly consent shall be obtained for the purchase; also, conditions of financial appropriateness as provided in paragraph three of article seven of the executive regulations of the corporate law for listed companies shall be met.

The purchased shares shall not have voting rights in the general assembly’s meetings, the company said.