SABB completes the purchase of 3.57 million shares for employee incentives

The British Saudi bank “SABB” announced today, Monday, the completion of the purchase of the required amount of its shares allocated to the employee incentive share program, in based on the approval of the Extraordinary General Assembly.

SABB Bank stated in a statement to Saudi Tadawul that the number of shares purchased is 3,574,316 shares, for a value of approximately 115 million riyals, with an average purchase price of 32 riyals.

Saudi British Bank confirmed that it has completed the purchase of the requested shares in only one stage and that no additional shares would be purchased during the specified purchase period.

The shareholders of Saudi British Bank “SABB” had agreed at the extraordinary general meeting held at the end of last March, to purchase the bank a certain number of its shares with a maximum of 4 million shares, for an amount not exceeding 115 million riyals. , in order to allocate them to the long-term incentive program for employees, provided that it finances the purchase with the bank’s own resources.

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