Atlas Elevators shareholders extend share buyback period to 18 months

Logo of Atlas Elevators General Trading and Contracting Co.

Shareholders of Atlas Elevators General Trading and Contracting Co. approved the board’s recommendation on extending the share buyback period from 12 to 18 months, starting from the extraordinary general meeting (EGM) on March 3.

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In a statement to Tadawul, the company said it will retain the purchased shares for a maximum period of 24 months from the date of approval of EGM held on March 3, 2024. After the expiry of this period, the company will follow the procedures and controls stipulated in the relevant systems and regulations.

According to data available on Argaam, shareholders of Atlas Elevators approved, on March 3, 2024, repurchasing a maximum of 300,000 treasury shares to be retained as treasury stocks