The General “Buba Arab” general agrees to distribute profits and buy the shares of the “Employees Program”
The Arab Cooperative Insurance Company (Buba Al Arabiya) announced today the results of the extraordinary general assembly meeting (the first meeting), which was held on Monday. 40% of the nominal value of the share. Results: Approval of the company’s purchase of a number of shares and a maximum of (1,400,000) shares of its shares with the aim of allocating it to the company’s employees within the program of the long -term employee incentives program for the courses from 2025 to 2029, and the purchase will be funded by the available cash
in the company), and the Board of Directors will be authorized to complete the purchase process within a maximum period of 12 months from the date of the unusual general assembly decision. />
The company will retain the shares purchased for a period not exceeding 10 years from the date of the approval of the extraordinary general assembly as a maximum until it is allocated to the eligible employees, and after the expiry of this period the company will follow the procedures and controls stipulated in the relevant regulations and regulations. Note that the approval of the extraordinary general assembly on this program was obtained on the date of
05/08 AD corresponding to 12/08/1438 AH. Louay Nazer, David Fletcher, Martin Houston, Nigel Sullivan, Tal Nazer, Osama Shaker, Hoda Al -Ghusn, Osama Banjaj, George Nazi.
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