Fakeeh Care Withdraws Share Buyback Proposal Citing Regulatory Reasons

Dr. Soliman Abdel Kader Fakeeh Hospital Company announced on Thursday that its Board of Directors has decided to withdraw its previous recommendation to repurchase a number of the company’s shares. The plan had aimed to buy back up to 1.03 million shares to hold as treasury stock. The decision was made to avoid reducing public ownership below the approved regulatory threshold.

In a separate development, the company announced the results of its Ordinary General Assembly Meeting (first meeting), where shareholders approved the appointment of Ernst & Young Professional Services as the external auditor. The appointment, based on the recommendation of the Audit Committee, will cover the review, audit, and examination of the consolidated financial statements for the first, second, and third quarters, as well as the annual financial statements for the fiscal year 2025, for a total fee of SAR 1.4 million.