CMCER plans 500,000 share buyback

08:44 AM (Mecca time) Argaam
Logo ofCanadian Medical Center Co.

Logo of Canadian Medical Center Co.

Canadian Medical Center Co.’s (CMCER) board of directors recommended to repurchase a maximum of 500,000 ordinary shares and retain them as treasury shares allocated for the long-term employee incentive program.

 

The recommendation is subject to shareholders’ approval for adding a new article to the company’s bylaws pertaining to share repurchase, the company said in a statement to Tadawul.

 

For more news on listed companies

 

The share repurchase will support the company’s strategic objectives with the aim of motivating employees and attracting top talents.

 

The buyback will be financed through the company’s internal resources and the repurchased shares will have no voting rights in the general meetings.

 

The company currently has no treasury shares, the statement added.

 

The shares slotted for repurchase represent nearly 0.65% of the company’s share capital of 77 million shares (par value of SAR 1 per share), Argaam data showed.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.