SADAFCO shall keep the purchased shares for no longer than five years after the EGM approval.
Saudia Dairy and Foodstuff Co.’s (SADAFCO) shareholders will hold an extraordinary general meeting (EGM) on May 19 to discuss a board recommendation to buy back of up to 2.7 million shares to be held as treasury stock. 
The board believes the company’s market price is below its fair value.
In a statement to Tadawul, the company said the repurchase will be self-financed.
Shareholders will also vote on authorizing the board to complete the purchase within a period of 18 months after the EGM approval date. The purchased shares will be kept no longer than five years after the EGM approval and once this period lapses, the company will follow the rules and procedures stipulated in the relevant laws and regulations, the statement added.
SADAFCO currently owns 540,370 treasury shares, representing 1.663% of the total shares under the buyback.
Meanwhile, shareholders will also vote on authorizing the board of directors to distribute interim dividends for 2026 on a semiannual or quarterly basis.
The shares recommended for purchase represent 8.34% of the company’s total shares, which stand at 32.5 million shares, according to Argaam’s data.
SADAFCO shall keep the purchased shares for no longer than five years after the EGM approval.
Saudia Dairy and Foodstuff Co.’s (SADAFCO) shareholders will hold an extraordinary general meeting (EGM) on May 19 to discuss a board recommendation to buy back of up to 2.7 million shares to be held as treasury stock.
The board believes the company’s market price is below its fair value.
In a statement to Tadawul, the company said the repurchase will be self-financed.
Shareholders will also vote on authorizing the board to complete the purchase within a period of 18 months after the EGM approval date. The purchased shares will be kept no longer than five years after the EGM approval and once this period lapses, the company will follow the rules and procedures stipulated in the relevant laws and regulations, the statement added.
SADAFCO currently owns 540,370 treasury shares, representing 1.663% of the total shares under the buyback.
Meanwhile, shareholders will also vote on authorizing the board of directors to distribute interim dividends for 2026 on a semiannual or quarterly basis.
The shares recommended for purchase represent 8.34% of the company’s total shares, which stand at 32.5 million shares, according to Argaam’s data.
