Tawuniya said the share buyback will be funded by its internal resources
The Company for Cooperative Insurance’s (Tawuniya) board of directors approved to purchase up to 212,143 shares to be retained as treasury shares and allocated within the Employee Stock Incentive Plan (ESIP). 
In a statement to Tadawul, the insurer said the process will be funded by the company’s internal resources, noting that it currently holds 0.3% treasury shares out of the total class of shares purchased.
The transaction is subject to approval by an upcoming extraordinary general meeting, in accordance with Article 17 of the executive regulations of the Companies Law for listed companies. The company said it will meet the solvency conditions set out in the regulations.
The shares to be purchased will not carry voting rights at the company’s general assembly meetings.
According to Argaam data, the shares intended for purchase represent 0.14% of the company’s total shares of 150 million shares.
Tawuniya said the share buyback will be funded by its internal resources
The Company for Cooperative Insurance’s (Tawuniya) board of directors approved to purchase up to 212,143 shares to be retained as treasury shares and allocated within the Employee Stock Incentive Plan (ESIP).
In a statement to Tadawul, the insurer said the process will be funded by the company’s internal resources, noting that it currently holds 0.3% treasury shares out of the total class of shares purchased.
The transaction is subject to approval by an upcoming extraordinary general meeting, in accordance with Article 17 of the executive regulations of the Companies Law for listed companies. The company said it will meet the solvency conditions set out in the regulations.
The shares to be purchased will not carry voting rights at the company’s general assembly meetings.
According to Argaam data, the shares intended for purchase represent 0.14% of the company’s total shares of 150 million shares.
