Bawan shareholders to vote on 3 mln share buyback, interim dividends for 2021 on June 10

Bawan Co.'s shareholders will vote on repurchasing a maximum of three million shares, or no more than 5% of issued capital, during an extraordinary general meeting (EGM) that will be held on June 10, 2021.

The treasury shares will be used in swap operations or asset acquisitions. The repurchase will be financed from the company’s resources.

Shareholders will also vote on approving the board's decision on distributing dividends for H1 and H2 2020, at SAR 1 per share, or 10% of capital, at a total value reaching SAR 60 million. They will also vote on delegating the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.

Shareholders will also discuss approving the board and auditor reports and financial statements for 2020.