News & Announcements

ASTRA INDUSTRIAL

09 May, 2024 08:48

Astra Industrial Group announces the Board recommendations to buy-back a number of its shares and allocate them to its employee within the employee stock program

Element List	Explanation
Introduction	Astra Industrial Group Company announces the Board recommendations to buy-back its shares to retain them as Treasury Shares with a maximum of 300.000 thousand shares and not exceeding 0.375% of total issued shares
Board of director’s recommendation date	2024-05-08 Corresponding to 1445-10-29
Purpose of Purchase	Allocating them to the Employee Stock Incentive Program.
Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)	To retain them as treasury shares for the purpose of allocating them to the Employee Stock Incentive Program.
Number of Shares to be Bought	300000
Shares Class and type	Ordinary Shares
Method of Financing the Purchasing Process	The Company’s own resources and/or using credit facilities
Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased	No treasury shares are held by the Group
Approvals and Meeting the Conditions of Financial Appropriateness	The resolution will be voted on in the extraordinary general assembly which will be announced later according to the requirements of the fourth paragraph of article seventeen of the implementing regulation of the companies' law for listed joint companies, and after satisfying solvency the Company as mentioned in the third paragraph of article seventeen of the implementing regulation of the companies' law for listed joint companies.
Voting Right	Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings

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