Tadawul Group shareholders also approve the employee stock incentive program.
Saudi Tadawul Group Holding Co.shareholders approved the buyback of up to 1.22 million ordinary shares, to allocate to the employee stock incentive program. 
The decision came during the extraordinary general meeting (EGM) held on June 30, according to a statement to Tadawul.
The share buyback will be financed through the company’s own resources. Shareholders also authorized the board of directors to complete the repurchase within 18 months from the date of the EGM’s approval.
The company added that it will retain the repurchased shares for up to six years from the date of the EGM’s approval until they are allocated to eligible employees. Upon the expiry of this period, the company will comply with the applicable regulatory procedures.
Shareholders also approved the employee share incentive program and authorized the board of directors to determine its terms and conditions, including the allocation price for any shares offered to employees for consideration.
In May, Tadawul Group’s board of directors recommended the buyback of up to 1.22 million ordinary shares, to allocate to the employee stock incentive program and to be retained as treasury shares, Argaam data showed.
Tadawul Group shareholders also approve the employee stock incentive program.
Saudi Tadawul Group Holding Co.shareholders approved the buyback of up to 1.22 million ordinary shares, to allocate to the employee stock incentive program.
The decision came during the extraordinary general meeting (EGM) held on June 30, according to a statement to Tadawul.
The share buyback will be financed through the company’s own resources. Shareholders also authorized the board of directors to complete the repurchase within 18 months from the date of the EGM’s approval.
The company added that it will retain the repurchased shares for up to six years from the date of the EGM’s approval until they are allocated to eligible employees. Upon the expiry of this period, the company will comply with the applicable regulatory procedures.
Shareholders also approved the employee share incentive program and authorized the board of directors to determine its terms and conditions, including the allocation price for any shares offered to employees for consideration.
In May, Tadawul Group’s board of directors recommended the buyback of up to 1.22 million ordinary shares, to allocate to the employee stock incentive program and to be retained as treasury shares, Argaam data showed.
