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SADAFCO repurchases 0.123% of its capital share to keep it as treasury shares
Saudi Dairy and Foodstuff Co. (SADAFCO) has completed the buyback of a number of its shares, which will be retained as treasury shares.
The buyback was carried out following the approval of shareholders at the extraordinary general meeting (EGM) held on Dec. 17, 2024.
In a statement to Tadawul, the company said the share repurchase program was completed according to the following details:
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SADAFCO’s Share Buyback |
|
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Purchase Period |
Within 12 months from the date of the above-mentioned EGM |
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No. of Shares |
40,124 shares (or 0.123% of the company’s shares) |
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Value of Purchased Shares |
SAR 10.09 million |
|
Average Purchase Price/ Share |
SAR 251.53 |
The company noted that since 2019 it has held 500,250 ordinary shares, representing 1.539% of its issued capital, as treasury shares (first phase).
With the addition of the newly purchased shares, the total number of treasury shares has reached 540,370, representing 1.663% of the company’s total shares.
SADAFCO added that the repurchased shares do not carry voting rights at shareholders’ meetings and are not entitled to any cash dividends while being held by the company.
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