Dallah shareholders to vote on buyback of 3.83M treasury shares on Dec. 28

Logo of  Dallah Healthcare Co.

Dallah Healthcare Co.’s shareholders will vote in an extraordinary general meeting (EGM) to be held on Dec. 28 on the buyback of a maximum of 3.83 million treasury shares, which will be allocated to its employees’ stock incentive plan.

In a statement to Tadawul, the company said that the share repurchase will be completed through its own resources, noting that shareholders will also vote on authorizing the board of directors to complete the buyback within a maximum period of 12 months from the date of the EGM’s decision.

The repurchased shares will be retained by the company as treasury shares for a period not exceeding five years, after which relevant regulatory procedures and controls will be followed.

Moreover, shareholders will vote on whether the company's bylaws align with the new Companies Law and rename articles according to the proposed change