Azem shareholders review treasury share buyback

At the Extraordinary General Assembly of Azm Saudi Communications and Information Technology Company, scheduled for November 5, 2026, several agenda items were discussed, including the company's purchase of 3.6 million shares for the Employee Stock Program, financed from its own resources. The assembly authorized the Board of Directors to complete the transaction within 18 months and outlined that the shares be held for no more than five years. Additionally, a vote was held to amend the company's governance regulations, and a new member was elected to fill a newly created seat on the Board of Directors. The assembly also approved contracts with related parties valued at over 180 million SAR, including agreements with two companies worth 74.6 million and 105.8 million SAR, with non-direct or indirect interests held by the Chairman and managing director in those contracts. The assembly reviewed the financial report, approved the appointment of auditors for the upcoming years, and voted on remunerations for Board members amounting to 580,000 SAR.

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