One of Bank Albiladbranches
Shareholders of Bank Albilad approved, during the extraordinary general meeting (EGM) held on Oct. 7, the board’s recommendation to repurchase up to 10 million shares of the bank’s stock to allocate them to the Employee Stock Incentive Program. 
According to a statement to Tadawul, the bank said that the repurchase process will be financed by internal resources.
Shareholders also authorized the board of directors to complete the repurchase process within a maximum period of 18 months from the date of the EGM.
Bank Albilad will retain the repurchased shares for a period not exceeding 10 years from the EGM date, until they are allocated to eligible employees.
Upon the expiry of this period, the bank will follow the procedures and regulations stipulated in the relevant laws and regulations.
According to Argaam’s data, Bank Albilad’s board recommended the repurchase of up to 10 million of the bank’s ordinary shares to be held as treasury shares and earmarked for the ESIP.
The 10 million shares represent nearly 0.67% of the bank’s total outstanding shares, which stand at 1.5 billion shares.
One of Bank Albiladbranches
Shareholders of Bank Albilad approved, during the extraordinary general meeting (EGM) held on Oct. 7, the board’s recommendation to repurchase up to 10 million shares of the bank’s stock to allocate them to the Employee Stock Incentive Program.
According to a statement to Tadawul, the bank said that the repurchase process will be financed by internal resources.
Shareholders also authorized the board of directors to complete the repurchase process within a maximum period of 18 months from the date of the EGM.
Bank Albilad will retain the repurchased shares for a period not exceeding 10 years from the EGM date, until they are allocated to eligible employees.
Upon the expiry of this period, the bank will follow the procedures and regulations stipulated in the relevant laws and regulations.
According to Argaam’s data, Bank Albilad’s board recommended the repurchase of up to 10 million of the bank’s ordinary shares to be held as treasury shares and earmarked for the ESIP.
The 10 million shares represent nearly 0.67% of the bank’s total outstanding shares, which stand at 1.5 billion shares.
