Latest news with #Tharwah
Argaam
18-05-2025
- Business
- Argaam
Tharwah board proposes 200,000 share buyback
Altharwah Albashariyyah Co.'s (Tharwah) board of directors recommended, on May 15, repurchasing up to 200,000 of the company's shares, representing 4.25% of its share capital, to be held as treasury shares. In a statement to Tadawul, the company said that the buyback will not impact the level of public ownership of the traded shares, in accordance with regulations set by the Capital Market Authority (CMA), financial market rules, and the applicable laws in Saudi Arabia. The buyback is intended to facilitate share-swap transactions as part of the acquisition deal for Amjad Watan for Exhibitions and Conferences Management. A portion of these shares will be allocated to the company's employees in the future under a long-term incentive program. The buyback will be funded from its own resources, Tharwah stated, adding that the repurchased shares will carry no voting rights in shareholders' meetings. The buyback requires approval from the extraordinary general meeting (EGM) and must meet the financial solvency requirements outlined in the executive regulations of the Companies Law for listed joint stock companies. The company confirmed it does not currently hold any treasury shares.
Argaam
18-05-2025
- Business
- Argaam
Tharwah appoints new financial advisor for Amjad Watan acquisition
Altharwah Albashariyyah Co.'s (Tharwah) board of directors decided to terminate the engagement with Mekyal Financial Technologies Co., the company said in a statement to Tadawul. The board approved the appointment of Qima Financial Co. as the new financial advisor to oversee the acquisition of Amjad Watan for Exhibitions and Conferences Management (a sole proprietorship) and related procedures. Any material developments will be announced in due course, the statement added. According to data available with Argaam, Tharwah signed, on April 17, a binding and conditional acquisition and subscription agreement with Amjad Watan to acquire 100% of the company's shares.
Argaam
26-03-2025
- Business
- Argaam
Tharwah inks SAR 9.8M contract with government entity
Altharwah Albashariyyah Co. (Tharwah) signed today, March 26, contract worth SAR 9.83 million (inclusive of VAT) with a government entity. The scope of work entails the provision of tailored developmental programs targeting administrative leadership, the company said in a statement to Tadawul. These programs are also aimed at training cadres for leadership competencies, deepening their knowledge and expertise, improving their efficiency, and enabling them to perform with excellence, it added. The related financial impact of the 30-month contract is expected to be reflected starting from the second quarter of 2025. There are no related parties to the deal, the company further stated. According to data available with Argaam, Tharwah received last January the award letter from the government entity for the SAR 9.83 million project.
Argaam
29-01-2025
- Business
- Argaam
Tharwah signs SAR 13.9M consultancy services deal
Altharwah Albashariyyah Co. (Tharwah) signed a project contract with National eLearning Center (NELC), with a total value of SAR 13.85 million, inclusive of VAT.
