| Element List |
Explanation |
| Introduction |
Bank Albilad announces that the Board of Directors has recommended the purchase of a maximum of (10,000,000) shares of the Bank’s shares to be allocated for the Employee Shares Program. |
| Board of director’s recommendation date |
2025-06-23 Corresponding to 1446-12-27 |
| Purpose of Purchase |
To be held as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) |
To be allocated within Employee Shares Program |
| Number of Shares to be Bought |
10000000 |
| Shares Class and type |
Ordinary shares |
| Method of Financing the Purchasing Process |
Financing the purchasing process through the Bank’s internal resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased |
0.61% |
| Approvals and Meeting the Conditions of Financial Appropriateness |
Voting on the BoD resolution would take place during the upcoming extraordinary general assembly which will be announced later, in accordance with (Paragraph 4 of Article 17) of the Implementing Regulation of the companies Law for Listed Joint Stock Companies. The Bank shall fulfil all the Solvency requirements mentioned in the Implementing Regulation of the companies Law for Listed Joint Stock Companies (Paragraph 3 of Article 17) and a report from the external auditor will be submitted as per the requirements of this paragraph. |
| Voting Right |
Purchased shares will not have any voting rights in any general assembly meetings |
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