ACWA Power plans to buy back 2 mln shares for employee incentive scheme

25/05/2023 Argaam
Logo ofACWA Power

Logo of ACWA Power

ACWA Power revealed intention to buy back two million shares to be retained as treasury shares, under the employee share-based long-term incentive scheme.

 

The share repurchase will be financed from the company’s internal resources. ACWA Power currently has no treasury shares, according to a Tadawul statement.

 

The share buyback should be approved by the extraordinary general meeting (EGM) and should meet the executive regulations of the Companies Law.

 

The repurchased shares will have no voting rights in the general meetings, the statement added.

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