| Element List |
Explanation |
| Introduction |
Jahez International Company for Information System Technology (Jahez) announces the board of directors’ resolution to recommend to the Extraordinary General Assembly the approval of the purchase of its shares with a maximum number of seven million, six hundred and thirty three thousand (7,633,000) shares, representing a maximum of 3.64% of its total shares, for the purpose of holding them as treasury shares. |
| Board of director’s recommendation date |
2025-05-15 Corresponding to 1446-11-17 |
| Purpose of Purchase |
Keeping them as treasury shares. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
Allocating them in swap transactions for the acquisition of shares or stakes in other companies, or for purchasing assets, or allocating them to the company's employees under the employee stock program, or selling them, in accordance with the regulations of the CMA, and other relevant laws. |
| Number of Shares to be Bought |
7633000 |
| Shares Class and type |
Ordinary Shares. |
| Method of Financing the Purchasing Process |
The purchase of these shares will be funded through the company internal resources or bank facilities. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
3.28% |
| Approvals and Meeting the Conditions of Financial Appropriateness |
This recommendation will be presented to the company's Extraordinary General Assembly to obtain its approval for the shares buy-back transaction, in accordance with the requirements of paragraph (4) of Article 17 of the Implementing Regulations of the Companies Law specific to listed joint stock companies. The company will also be required to fulfill the financial solvency requirements contained in paragraph (3) of Article 17 of the same regulation. |
| Voting Right |
The purchased shares shall have no voting rights in shareholders assemblies. |
| Additional Information |
The total number of treasury shares after purchasing the shares pursuant to this resolution will represent – at maximum – fourteen million, five hundred and seven thousand, six hundred and seventeen (14,507,617) shares, representing 6.91% of the total shares of the company. |
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