SPIMACO says repurchased shares represent 0.74% of its total share capital.
Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) board of directors recommended, on May 3, the buyback of up to 889,600 shares to be held as treasury shares and allocated under the long-term incentive scheme for the eligible employees. 
In a statement to Tadawul, the company said that the repurchase will be financed through its internal resources and it represents 0.74% of its total share capital.
The current treasury shares held by SPIMACO represent 0.54% of the total shares of the class being acquired, the statement added.
The acquisition requires shareholders’ approval.
The company further clarified that the acquired shares will not have voting rights at shareholder meetings.
SPIMACO says repurchased shares represent 0.74% of its total share capital.
Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) board of directors recommended, on May 3, the buyback of up to 889,600 shares to be held as treasury shares and allocated under the long-term incentive scheme for the eligible employees.
In a statement to Tadawul, the company said that the repurchase will be financed through its internal resources and it represents 0.74% of its total share capital.
The current treasury shares held by SPIMACO represent 0.54% of the total shares of the class being acquired, the statement added.
The acquisition requires shareholders’ approval.
The company further clarified that the acquired shares will not have voting rights at shareholder meetings.
