Jamjoom Pharma board proposes 100,000 share buyback

14/05/2025 Argaam
Logo ofJamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma)

Logo of Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma)

Jamjoom Pharmaceuticals Factory Co.’s (Jamjoom Pharma) board of directors recommended on May 13 the buyback of 100,000 shares maximum to be retained as treasury shares, according to a statement to Tadawul.

 

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These shares will be also allocated to the employees’ long-term incentive program and the share repurchase will be financed from the company’s internal cash resources, the statement added.

 

The company has no treasury shares at present, and the repurchased shares will have no voting rights.

 

The share buyback is subject to shareholders’ approval and other regulatory measures.

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