Tameer Board recommends 11.7M share buy
Al Riyadh Development Company announced that its Board of Directors has addressed the Extraordinary General Assembly to approve the purchase of up to 11.7 million shares, representing 5% of the company's capital. The purpose is to hold these shares as treasury stock and to take advantage of the current share price, which is below its fair value, in order to enhance long-term returns for shareholders. The purchase will be fully financed from the company’s own resources, subject to approval by the assembly and compliance with financial solidity conditions. The company also confirms that the purchased shares will be held without voting rights or dividend entitlements during the holding period.
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