Riyadh - The extraordinary general meeting (EGM) of Bupa Arabia for Cooperative Insurance Company approved the buyback of a maximum of 220,000 shares at a value of SAR 14.27 million.
The new shares will be allocated to the insurer’s long-term incentive plan (LTIP), according to a bourse statement on Wednesday.
Moreover, the purchase will be financed through the company’s own funds.
The board of directors has been authorised to finalise the share buy-back transaction within a maximum period of 12 months starting from the EGM date.
Source: Mubasher
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