Logo ofThe Company for Cooperative Insurance (Tawuniya)
The Company for Cooperative Insurance’s (Tawuniya) board of directors approved the purchase of a number of the company’s shares with a maximum of 199,862 shares to be retained as treasury stocks and allocated within the Employee Stock Incentive Plan. 
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In a statement to Tadawul, the company said that the purchase will be financed from the company’s funds, noting that the current percentage of the treasury shares represents 0.17% out of the total class of shares purchased.
Purchased shares shall not have voting rights in the general assembly meetings.
The decision is subject to approval by the extraordinary general assembly (EGM) which will be announced later according to the requirements of the fourth paragraph of Article 17 of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements by Tawuniya as mentioned in the third paragraph of Article 17 of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, the statement added.
Logo ofThe Company for Cooperative Insurance (Tawuniya)
The Company for Cooperative Insurance’s (Tawuniya) board of directors approved the purchase of a number of the company’s shares with a maximum of 199,862 shares to be retained as treasury stocks and allocated within the Employee Stock Incentive Plan.
For more news on listed companies
In a statement to Tadawul, the company said that the purchase will be financed from the company’s funds, noting that the current percentage of the treasury shares represents 0.17% out of the total class of shares purchased.
Purchased shares shall not have voting rights in the general assembly meetings.
The decision is subject to approval by the extraordinary general assembly (EGM) which will be announced later according to the requirements of the fourth paragraph of Article 17 of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements by Tawuniya as mentioned in the third paragraph of Article 17 of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, the statement added.
