Riyadh — Mubasher: Axelerated Solutions for Information and Communication Technology Company announced that its board of directors recommended the purchase of up to 1 million ordinary shares, according to a bourse filing.

The buyback, which was proposed on 25 August 2026, is intended for the establishment of an employee incentive program, with the repurchased shares to be held as treasury shares.

The company confirmed that the transaction will be financed through its own internal resources.

Currently, Axelerated Solutions holds 0% of its total shares as treasury shares.

The execution of the buyback is subject to approval by the Extraordinary General Assembly (EGM).

Furthermore, the company must satisfy all financial solvency requirements as stipulated in the executive regulations of the Companies Law for listed joint-stock companies.

According to the disclosure, the treasury shares acquired through this process will not carry any voting rights during shareholder assembly meetings.

It is worth noting that Axelerated Solutions recently obtained a regulatory approval to double its capital.