| Element List | Explanation |
|---|---|
| Introduction | National Industrialization Company announces its board recommendation to the extraordinary general assembly to initiate the regularity procedures that enable the company to buy-back its shares and keep them as treasury shares in accordance with the regulations of CMA and companies’ law and other related regulations. This regulation to be voted by the extraordinary general assembly to amend the company’s bylaw and approve purchasing its shares in accordance to article 17 of the executive regulation of the companies law for listed joint stock companies |
| Board of director’s recommendation date | 2025-03-16 Corresponding to 1446-09-16 |
| Purpose of Purchase | to be held as treasury shares. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | The board considers that the company market price is below its fair value. |
| Number of Shares to be Bought | 66891416 |
| Shares Class and type | Ordinary shares. |
| Method of Financing the Purchasing Process | From the company’s financial resources. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 0% |
| Approvals and Meeting the Conditions of Financial Appropriateness | Extraordinary General Assembly Approval must be Obtained for the bylaw amendment and the shares buy-back transaction, also financial solvency requirements contained in Implementing Regulations issued pursuant to the Companies Law shall be fulfilled |
| Voting Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
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