SAIB GA discusses purchasing maximum of 5 mln shares of bank’s shares on December 21

The Board of Directors of the Saudi Investment Bank invited its shareholders to attend the Extraordinary General Assembly meeting (First Meeting) to be held on Thursday (corresponding to 21/12/2023) by means of modern technology, where the terms include voting on the Bank’s shares buy-back (maximum 5,000,000 shares) to be allocated to the employee share program, the purchase shall be financed from the Bank’s own resources. To authorise the Board of Directors to finalise the purchase transaction within no more than twelve (12) months from the date of the Extraordinary General Assembly approval. Such shares shall be held for a period not exceeding ten (10) years from the date…