Americana obtains ADX approval to buy back 25M shares for employees

31/07/2024 Argaam

Americana obtains ADX approval to buyback 25M shares for employees

Americana Restaurants International PLC obtained Abu Dhabi Securities Exchange’s (ADX) approval to buy back 25 million shares listed on ADX.

 

Americana said in a statement on Tadawul that these shares will be repurchased from the open market in ADX and will be allocated to eligible employees, according to the conditions stipulated in the Long-Term Incentive Plan (LTIP).

 

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It added that it will buy back the shares in multiple tranches over an extended period starting after Aug. 8, 2024.

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