SISCO Holding announces its intension to purchase its shares
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.
| Element List | Explanation |
|---|---|
| Introduction | 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. |
| Board Approval's Date | 2023-10-21 Corresponding to 1445-04-06 |
| Purpose of Purchase | For the purchased shares to be held as Treasury Shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | If the Board of Directors or its authorized representative finds that the share price in the market is less than its fair value |
| Number of Shares to be Bought | 8160000 |
| Shares Class and type | Ordinary Shares. |
| Method of Financing the Purchasing Process | The Company’s available internal cash resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | SISCO holding currently holds 0.024% (19,702) of its Ordinary Shares as Treasury Shares. |
| Approvals and Meeting the Conditions of Financial Appropriateness |
|
| External Auditor's Report |
