National Industrialization Co. (TASNEE) announced that its board of directors has recommended repurchasing 66.89 million shares to hold as treasury stock. The proposal aligns with the regulations of the Capital Market Authority (CMA), the Companies Law, and other relevant regulations.
According to a statement on Tadawul, the recommendation will be presented for shareholder approval at the upcoming extraordinary general assembly, the date of which will be announced later. The approval will also include amendments to the company’s bylaws and authorization of the share buyback in accordance with Article 17 of the executive regulations for listed joint-stock companies.
