{ "schema_version": 1, "id": "sisco:1:316", "entry_id": 316, "channel": "news", "kind": "news", "language": "en", "slug": "share-buyback-announcement-2023", "title": "SISCO Holding announces its intension to purchase its shares", "url": "https://sisco.uxpan.net/en/media/press/view/share-buyback-announcement-2023/", "markdown_url": "https://sisco.uxpan.net/en/md/news/share-buyback-announcement-2023.md", "raw_url": "https://sisco.uxpan.net/en/md/raw/news/share-buyback-announcement-2023.json", "published_at": "2023-10-22T00:00:00+00:00", "updated_at": "2026-10-12T02:24:08+00:00", "publication_status": "public", "knowledge_approval": "not_assessed", "translations": [ { "id": "sisco:1:328", "language": "ar", "url": "https://sisco.uxpan.net/ar/media/press/view/share-buyback-announcement-2023/", "markdown_url": "https://sisco.uxpan.net/ar/md/news/share-buyback-announcement-2023.md", "raw_url": "https://sisco.uxpan.net/ar/md/raw/news/share-buyback-announcement-2023.json" } ], "source_revision": "8a2f5cf5ec79ce14071111b2247f5704199faa345470b15f1b7022a902476813", "representation": "rendered_public_components", "components": [ { "type": "entry", "markdown": "# SISCO Holding announces its intension to purchase its shares\n\n[Original page](\u003Chttps://sisco.uxpan.net/en/media/press/view/share-buyback-announcement-2023/\u003E)", "blocks": [ { "type": "heading", "level": 1, "text": "SISCO Holding announces its intension to purchase its shares" }, { "type": "p", "markdown": "[Original page](\u003Chttps://sisco.uxpan.net/en/media/press/view/share-buyback-announcement-2023/\u003E)" } ] }, { "type": "news", "markdown": "2023-10-22\n\nSaudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to the Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary shares, and to hold them as Treasury Shares.\n\n\u003Ctable\u003E\u003Cthead\u003E\u003Ctr\u003E\u003Cth\u003EElement List\u003C/th\u003E\u003Cth\u003EExplanation\u003C/th\u003E\u003C/tr\u003E\u003C/thead\u003E\u003Ctbody\u003E\u003Ctr\u003E\u003Ctd\u003EIntroduction\u003C/td\u003E\u003Ctd\u003ESaudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to\u003Cbr\u003Ethe Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary\u003Cbr\u003Eshares, and to hold them as Treasury Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EBoard Approval's Date\u003C/td\u003E\u003Ctd\u003E2023-10-21 Corresponding to 1445-04-06\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EPurpose of Purchase\u003C/td\u003E\u003Ctd\u003EFor the purchased shares to be held as Treasury Shares\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EPurpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)\u003C/td\u003E\u003Ctd\u003EIf the Board of Directors or its authorized representative finds that the share price in the market\u003Cbr\u003Eis less than its fair value\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003ENumber of Shares to be Bought\u003C/td\u003E\u003Ctd\u003E8160000\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EShares Class and type\u003C/td\u003E\u003Ctd\u003EOrdinary Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EMethod of Financing the Purchasing Process\u003C/td\u003E\u003Ctd\u003EThe Company’s available internal cash resources.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003ECurrent Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased\u003C/td\u003E\u003Ctd\u003ESISCO holding currently holds 0.024% (19,702) of its Ordinary Shares as Treasury Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EApprovals and Meeting the Conditions of Financial Appropriateness\u003C/td\u003E\u003Ctd\u003E\u003Cul\u003E\u003Cli\u003EThe approval of the Extraordinary General Assembly (EGM) shall be obtained in the next EGM meeting for the shares purchase as per the requirements of sub-article (4) of Article (17) of the Implementing Regulations of the Company Law for Listed Joint Stock Companies.\u003C/li\u003E\u003Cli\u003EThe Company will also stick to the conditions of solvency requirements as set out in sub-article (3) of article (17) of the Implementing Regulations based on a Solvency Report that will be issued by the Company’s external auditors, which will be attached along with the EGM invitation that will approve this transaction as per regulation.\u003C/li\u003E\u003C/ul\u003E\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EExternal Auditor's Report\u003C/td\u003E\u003Ctd\u003E \u003C/td\u003E\u003C/tr\u003E\u003C/tbody\u003E\u003C/table\u003E", "blocks": [ { "type": "text", "text": "2023-10-22" }, { "type": "p", "markdown": "Saudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to the Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary shares, and to hold them as Treasury Shares." }, { "type": "table", "rows": [ [ { "text": "Element List", "header": true, "rowspan": 1, "colspan": 1 }, { "text": "Explanation", "header": true, "rowspan": 1, "colspan": 1 } ], [ { "text": "Introduction", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "Saudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend tothe Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinaryshares, and to hold them as Treasury Shares.", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Board Approval's Date", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "2023-10-21 Corresponding to 1445-04-06", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Purpose of Purchase", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "For the purchased shares to be held as Treasury Shares", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "If the Board of Directors or its authorized representative finds that the share price in the marketis less than its fair value", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Number of Shares to be Bought", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "8160000", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Shares Class and type", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "Ordinary Shares.", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Method of Financing the Purchasing Process", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "The Company’s available internal cash resources.", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "SISCO holding currently holds 0.024% (19,702) of its Ordinary Shares as Treasury Shares.", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "Approvals and Meeting the Conditions of Financial Appropriateness", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "The approval of the Extraordinary General Assembly (EGM) shall be obtained in the next EGM meeting for the shares purchase as per the requirements of sub-article (4) of Article (17) of the Implementing Regulations of the Company Law for Listed Joint Stock Companies.The Company will also stick to the conditions of solvency requirements as set out in sub-article (3) of article (17) of the Implementing Regulations based on a Solvency Report that will be issued by the Company’s external auditors, which will be attached along with the EGM invitation that will approve this transaction as per regulation.", "header": false, "rowspan": 1, "colspan": 1 } ], [ { "text": "External Auditor's Report", "header": false, "rowspan": 1, "colspan": 1 }, { "text": "", "header": false, "rowspan": 1, "colspan": 1 } ] ] } ] } ], "attachments": [], "content_sha256": "5881ebde64301225dddfff5b25e1980b8578af66c5d1418deeed2c386263d11a", "markdown": "# SISCO Holding announces its intension to purchase its shares\n\n[Original page](\u003Chttps://sisco.uxpan.net/en/media/press/view/share-buyback-announcement-2023/\u003E)\n\n2023-10-22\n\nSaudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to the Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary shares, and to hold them as Treasury Shares.\n\n\u003Ctable\u003E\u003Cthead\u003E\u003Ctr\u003E\u003Cth\u003EElement List\u003C/th\u003E\u003Cth\u003EExplanation\u003C/th\u003E\u003C/tr\u003E\u003C/thead\u003E\u003Ctbody\u003E\u003Ctr\u003E\u003Ctd\u003EIntroduction\u003C/td\u003E\u003Ctd\u003ESaudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to\u003Cbr\u003Ethe Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary\u003Cbr\u003Eshares, and to hold them as Treasury Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EBoard Approval's Date\u003C/td\u003E\u003Ctd\u003E2023-10-21 Corresponding to 1445-04-06\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EPurpose of Purchase\u003C/td\u003E\u003Ctd\u003EFor the purchased shares to be held as Treasury Shares\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EPurpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)\u003C/td\u003E\u003Ctd\u003EIf the Board of Directors or its authorized representative finds that the share price in the market\u003Cbr\u003Eis less than its fair value\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003ENumber of Shares to be Bought\u003C/td\u003E\u003Ctd\u003E8160000\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EShares Class and type\u003C/td\u003E\u003Ctd\u003EOrdinary Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EMethod of Financing the Purchasing Process\u003C/td\u003E\u003Ctd\u003EThe Company’s available internal cash resources.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003ECurrent Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased\u003C/td\u003E\u003Ctd\u003ESISCO holding currently holds 0.024% (19,702) of its Ordinary Shares as Treasury Shares.\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EApprovals and Meeting the Conditions of Financial Appropriateness\u003C/td\u003E\u003Ctd\u003E\u003Cul\u003E\u003Cli\u003EThe approval of the Extraordinary General Assembly (EGM) shall be obtained in the next EGM meeting for the shares purchase as per the requirements of sub-article (4) of Article (17) of the Implementing Regulations of the Company Law for Listed Joint Stock Companies.\u003C/li\u003E\u003Cli\u003EThe Company will also stick to the conditions of solvency requirements as set out in sub-article (3) of article (17) of the Implementing Regulations based on a Solvency Report that will be issued by the Company’s external auditors, which will be attached along with the EGM invitation that will approve this transaction as per regulation.\u003C/li\u003E\u003C/ul\u003E\u003C/td\u003E\u003C/tr\u003E\u003Ctr\u003E\u003Ctd\u003EExternal Auditor's Report\u003C/td\u003E\u003Ctd\u003E \u003C/td\u003E\u003C/tr\u003E\u003C/tbody\u003E\u003C/table\u003E" }