One of eXtra’s showrooms
The Extraordinary General meeting (EGM) of United Electronics Co. (eXtra), scheduled to convene on Nov. 4, will vote on the company’s recommendation to buy back up to 2.49 million of its shares to be held as treasury shares. 
The company said in a statement on Tadawul today that the board of directors believes the company’s share price in the market is below its fair value, noting that the share purchase will be financed from the company’s own resources.
The board of directors will be authorized to complete the purchase in one or several stages within a maximum period of 18 months from the date of the EGM resolution.
The company will retain the purchased shares for a maximum period of eight years from the date of the EGM approval. After this period expires, the company will follow the procedures and controls stipulated under the relevant laws and regulations.
According to data available on Argaam, the shares to be purchased represent around 3.12% of the company’s total 80 million shares.
One of eXtra’s showrooms
The Extraordinary General meeting (EGM) of United Electronics Co. (eXtra), scheduled to convene on Nov. 4, will vote on the company’s recommendation to buy back up to 2.49 million of its shares to be held as treasury shares.
The company said in a statement on Tadawul today that the board of directors believes the company’s share price in the market is below its fair value, noting that the share purchase will be financed from the company’s own resources.
The board of directors will be authorized to complete the purchase in one or several stages within a maximum period of 18 months from the date of the EGM resolution.
The company will retain the purchased shares for a maximum period of eight years from the date of the EGM approval. After this period expires, the company will follow the procedures and controls stipulated under the relevant laws and regulations.
According to data available on Argaam, the shares to be purchased represent around 3.12% of the company’s total 80 million shares.
