Abdulmohsen Alhokair Group for Tourism and Development Co.’s shareholders on Monday approved authorizing the board of directors to buy back 5 million shares to develop an employee stock plan.
The stocks will be gradually repurchased and the program will be developed as per the applicable regulatory procedures, the company said in a statement to the Saudi bourse, Tadawul.
The extraordinary general assembly meeting also approved amending several articles under the articles of incorporation relating to the company’s objectives, acquisitions, and board authorities.
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