Logo ofGhida Al-Sultan for Fast Food Co. (Ghida Al-Sultan)
Ghida Al-Sultan for Fast Food Co.’s (Ghida Al-Sultan) board of directors recommended repurchasing 1% maximum of the company’s ordinary shares to retain as treasury shares, according to a Tadawul statement. 
For more news on listed companies
The move aims to allocate the repurchased shares for the employee stock program, as well as mortgage and sell them as needed. This is in addition to exchanging the shares in acquisitions, as per the regulations of the Capital Market Authority, Tadawul, and other relevant regulations.
The buyback will be financed from the company’s own resources, the statement said, noting that the extraordinary general assembly’s approval is conditional for the repurchase. In addition, the financial solvency requirements stated in the executive regulations of the Companies Law shall be fulfilled.
The repurchased shares shall not have voting rights in the general assembly’s meetings.
The company currently has no treasury shares, according to the statement.
Logo ofGhida Al-Sultan for Fast Food Co. (Ghida Al-Sultan)
Ghida Al-Sultan for Fast Food Co.’s (Ghida Al-Sultan) board of directors recommended repurchasing 1% maximum of the company’s ordinary shares to retain as treasury shares, according to a Tadawul statement.
For more news on listed companies
The move aims to allocate the repurchased shares for the employee stock program, as well as mortgage and sell them as needed. This is in addition to exchanging the shares in acquisitions, as per the regulations of the Capital Market Authority, Tadawul, and other relevant regulations.
The buyback will be financed from the company’s own resources, the statement said, noting that the extraordinary general assembly’s approval is conditional for the repurchase. In addition, the financial solvency requirements stated in the executive regulations of the Companies Law shall be fulfilled.
The repurchased shares shall not have voting rights in the general assembly’s meetings.
The company currently has no treasury shares, according to the statement.
