Tawuniya plans share buyback for employee stock incentive

Logo of The Company for Cooperative Insurance (Tawuniya)

The Company for Cooperative Insurance’s (Tawuniya) board of directors approved the repurchase and allocation of 199,862 treasury shares maximum for the long -term Employee Stock Incentive Plan.

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In a statement to Tadawul, the company said that the buyback process will be financed from the company’s funds, noting that the current percentage of the treasury shares represents 0.17% out of the total class of shares to be repurchased.

The repurchased shares shall not have voting rights in the general meetings.

The decision is subject to shareholders approval and the meeting date will be announced, the statement added.

To view the audit report