Dallah shareholders OK 3.83M treasury share buyback

31/12/2023 Argaam

Dallah shareholders OK 3.83M treasury share buyback

Logo of Dallah Healthcare Co.

Shareholders of Dallah Healthcare Co. approved the buyback of 3.83 million treasury shares maximum during the extraordinary general meeting (EGM), held on Dec. 28, according to a statement to Tadawul.

 

The repurchase will be financed from the company’s resources, the statement said, adding that shareholders authorized the board to finalize the repurchase within 12 months from the EGM date.

 

The repurchased shares will be held for a maximum of five years, after which the company will apply the applicable measures in this regard.

 

The board of directors approved on Sept. 19 the buyback of up to 3.83 million shares, or 3.917% of total ordinary shares, to retain them as treasury stock, Argaam earlier reported.

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