BinDawood Holding Board Approves Purchase of Two Million Shares for Employee Stock Program

BinDawood Holding Company’s Board of Directors announced on Monday the outcomes of the Extraordinary General Assembly Meeting (First Meeting) held on Sunday, March 31, 2024, utilizing modern technology to achieve the required legal quorum as per the Company’s Bylaws.

Voting Results:

The Board approved the purchase of a maximum of 2 million shares of the company, to be allocated within the Employee Share Ownership Plan. The financing for this share purchase will be drawn from the Company’s own resources. The Board of Directors is also authorized to complete this purchase within a twelve-month period from the date of approval at the Extraordinary General Assembly.

The acquired shares will be held for a maximum of ten (10) years from the date of approval at the Extraordinary General Assembly. At the end of this period, the company will adhere to the rules and procedures outlined in the relevant laws and regulations.