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Tameer board recommends buying 11.7M shares
The Board of Directors of Riyad Real Estate Development Company has recommended an extraordinary general assembly to approve the purchase of up to 11.7 million shares of the company's stock, representing approximately 5% of the company's capital, to be held as treasury shares. This step aims to capitalize on the market opportunity presented by the stock's price being below its fair value, with the goal of enhancing long-term shareholder value. The purchase will be financed from the company's own resources, subject to approval by the assembly, and in compliance with financial regulations to ensure liquidity and shareholders' rights. The acquired shares will not grant voting rights or dividends during the period they are held in treasury.
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