Savola completed the buyback of all the required shares to be retained as treasury shares under LTIP.
Savola Group completed today, Nov. 20, the buyback of all the required shares to be retained as treasury shares under the Employees’ Long-Term Incentive Program (LTIP), for a total value of SAR 70 million. 
In a statement to Tadawul, the company said that the number of the purchased shares is 2.6 million shares (represent 0.87% of the company’s shares), with an average purchase price per share of SAR 26.87.
The purchase was completed within a maximum period of 12 months from the date of the EGM’s resolution, the company said, noting that there is no financial impact that may affect the company’s financial statements as a result of the purchase.
The step comes as part of the group’s efforts to attract and retain key talents and to motivate them to further strengthen their performance to achieve the group’s strategic objectives, the statement added.
According to data available on Argaam, Savola’s shareholders approved the repurchase of 2.8 million of its shares to allocate them under the employees’ long-term incentive program (LTIP).
Savola completed the buyback of all the required shares to be retained as treasury shares under LTIP.
Savola Group completed today, Nov. 20, the buyback of all the required shares to be retained as treasury shares under the Employees’ Long-Term Incentive Program (LTIP), for a total value of SAR 70 million.
In a statement to Tadawul, the company said that the number of the purchased shares is 2.6 million shares (represent 0.87% of the company’s shares), with an average purchase price per share of SAR 26.87.
The purchase was completed within a maximum period of 12 months from the date of the EGM’s resolution, the company said, noting that there is no financial impact that may affect the company’s financial statements as a result of the purchase.
The step comes as part of the group’s efforts to attract and retain key talents and to motivate them to further strengthen their performance to achieve the group’s strategic objectives, the statement added.
According to data available on Argaam, Savola’s shareholders approved the repurchase of 2.8 million of its shares to allocate them under the employees’ long-term incentive program (LTIP).
