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Theeb Recommends Buyback
The Board of Directors of Theeb Rent a Car Company has recommended purchasing up to 3.98 million shares, representing 6.037% of the issued shares, to hold as treasury shares, citing that the share price is below its fair value. The transaction will be financed through bank facilities and is subject to approval by the Extraordinary General Assembly and the fulfilment of solvency requirements. The company currently holds treasury shares equivalent to 2.23% of the relevant share class. The shares purchased will carry no voting rights and will not be entitled to dividends while held by the company.
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