Atlas Elevators EGM to vote on amending share buyback period on Feb. 27

04:41 PM (Mecca time) Argaam
Logo ofAtlas Elevators General Trading and Contracting Co.

Logo of Atlas Elevators General Trading and Contracting Co.

Atlas Elevators General Trading and Contracting Co. will hold an extraordinary general meeting (EGM) on Feb. 27 to discuss amending the period for completing the repurchase of 300,000 shares maximum to be retained as treasury shares.

 

In a Tadawul statement today, Feb. 6, Atlas Elevators said the buyback period would be amended from 12 to 18 months as of the EGM held on March 3, 2024, in accordance with the regulations of the Companies Law for Listed Companies amended by the Capital Market Authority.

 

For more news on listed companies

 

The company will retain the repurchased shares for 24 months maximum from the EGM date (March 3, 2024).

 

After the expiry of this period, Atlas Elevators will follow the procedures and controls stipulated in the relevant laws and regulations, the statement noted.

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