Logo ofScientific Medical Equipment House Co.
Scientific Medical Equipment House Co. said shareholders approved the company’s proposal to repurchase up to three million treasury shares during an extraordinary general meeting (EGM) held on Nov. 11. 
In a statement to Tadawul, Equipment House said its board believes the shares are trading below their fair value. The buyback will be financed through the company’s internal resources.
Shareholders also authorized the board to buy back shares in one or more tranches within 18 months of the EGM resolution.
The company will retain the repurchased shares for up to 10 years from the shareholder approval date. It will then comply with the relevant regulatory requirements and procedures.
According to data compiled by Argaam, the proposed buyback represents approximately 10% of the company’s total 30 million shares
Logo ofScientific Medical Equipment House Co.
Scientific Medical Equipment House Co. said shareholders approved the company’s proposal to repurchase up to three million treasury shares during an extraordinary general meeting (EGM) held on Nov. 11.
In a statement to Tadawul, Equipment House said its board believes the shares are trading below their fair value. The buyback will be financed through the company’s internal resources.
Shareholders also authorized the board to buy back shares in one or more tranches within 18 months of the EGM resolution.
The company will retain the repurchased shares for up to 10 years from the shareholder approval date. It will then comply with the relevant regulatory requirements and procedures.
According to data compiled by Argaam, the proposed buyback represents approximately 10% of the company’s total 30 million shares
