Logo ofAtaa Educational Co.
The board of Ataa Educational Co. recommended yesterday, Sept. 15, that the extraordinary general meeting (EGM) initiate the regulatory procedures required to enable the company to repurchase and retain up to 2.1 million of its shares as treasury shares. 
In a Tadawul statement, the company said the proposed repurchase is because the board considers its share price to be below fair value.
The repurchased shares will be ordinary shares, funded from the company’s own resources.
Ataa currently holds no treasury shares from the class of shares targeted for purchase.
The company added that treasury shares will not carry voting rights at shareholders’ meetings.
The repurchase will be subject to the regulations of the Capital Market Authority (CMA), the companies law and other relevant rules.
The recommendation will also require approval by the EGM, which will be announced later in accordance with the implementing regulations of the companies law for listed joint stock companies.
Logo ofAtaa Educational Co.
The board of Ataa Educational Co. recommended yesterday, Sept. 15, that the extraordinary general meeting (EGM) initiate the regulatory procedures required to enable the company to repurchase and retain up to 2.1 million of its shares as treasury shares.
In a Tadawul statement, the company said the proposed repurchase is because the board considers its share price to be below fair value.
The repurchased shares will be ordinary shares, funded from the company’s own resources.
Ataa currently holds no treasury shares from the class of shares targeted for purchase.
The company added that treasury shares will not carry voting rights at shareholders’ meetings.
The repurchase will be subject to the regulations of the Capital Market Authority (CMA), the companies law and other relevant rules.
The recommendation will also require approval by the EGM, which will be announced later in accordance with the implementing regulations of the companies law for listed joint stock companies.
