Sahara International Petrochemical Co. Announce the Result of Purchase for it’s Shares ( Second phase )
| Element List | Explanation |
|---|---|
| Introduction | Sahara International Petrochemical Co. (Sipchem) completed (second phase) of purchasing its own shares and holding them as treasury shares during the period from 01/10/2020 to 31/12/2020 in accordance with Capital Market Authority Implementing Regulations , which is in line with the approval of the Extraordinary General Assembly held on 29/4/2020 and announced in Tadawul on 30/4/2020 |
| Date of Posting the Approval of the General Assembly on the Purchase on Tadawul's Website | 2020-04-30 Corresponding to 1441-09-07 |
| Purchase Period | One year from the approval of the Extraordinary General Assembly |
| Number of the Purchased Shares | 2670000 |
| Value of the Purchased Shares | 40,263,592.5 |
| Average Purchase Price Per Share | 15.08 |
| Additional Information | As a result of the above shares purchases, Sipchem currently holds (5,171,150) shares as treasury shares with an average purchase price per share of SAR 15.34
These shares purchases are not expected to have any material financial impact on Sipchem’s financial results.
The number of purchased shares during the second phase doesn’t include the employees incentive program shares which is equal to (827,813) share. |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.