Savola shareholders to start e-voting for EGM on April 24

Savola Group’s shareholders will start on April 24, 2021, the electronic voting for the agenda items of the extraordinary general assembly meeting (EGM) that will be held on April 28, 2021, according to a bourse filing.

Shareholders are set to vote on the board's recommendation on the distribution of cash dividend at 7.5% of capital, or SAR 0.75 per share, for 2020.

They will also vote on the share buyback of 1.2 million ordinary shares, which will be retained by the company as treasury shares to cover the new shares required for the second and third tranches of the current approved Employee Long-Term Incentive Program, in line with the timeframe for each tranche and the program's approved criteria, terms, and the policies.

Shareholders will also vote on authorizing the board of directors to finalize the buyback transaction within a maximum period of 12 months, starting from the EGM date.