25-05-2025
Bupa Arabia plans share repurchase for employees' stock incentive program
Bupa Arabia for Cooperative Insurance Co. 's board of directors recommended, on April 23, the repurchase of no more than 1.4 million shares to be allocated for the employees' long-term stock incentive plan from 2025 to 2029.
The share repurchase will be funded through the company internal resources, said Bupa Arabia in a Tadawul filing today, May 25, adding that the current ratio of treasury shares out of the total class of shares purchased is 0.43%.
The company also noted that the repurchased shares will not have voting rights in the general assembly's meetings.
The decision is yet to be voted on in the coming extraordinary general meeting (EGM), which will be announced later according to the requirements of the fourth paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
Bupa Arabia should also satisfy solvency requirements as stipulated in the third paragraph of Article 17 of the Executive Regulation of the Companies Law for Listed Joint Stock Companies.
