Alkhaleej Training to buy back 300,000 shares

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. intends to repurchase 300,000 of its ordinary shares to keep as treasury shares as part of the long-term employee incentives program for senior executives of the company, according to a bourse statement.  

Alkhaleej Training said the buyback will be financed from its own resources, adding that it does not currently retain any treasury shares.  

The move aims to attract and retain distinguished talents and cadres and motivate them for stronger performance, contributing to the company’s goals.  

Shareholders’ approval is mandatory for the repurchase process, the statement noted, adding that conditions of financial appropriateness must be met.   

The repurchased shares will not have voting rights in general assembly meetings.