Americana obtains ADX approval to buy back 25M shares for employees

31/07/2024 Argaam

Americana Restaurants International PLC obtained Abu Dhabi Securities Exchange’s (ADX) approval to buy back 25 million shares listed on ADX.

 

Americana said in a statement on Tadawul that these shares will be repurchased from the open market in ADX and will be allocated to eligible employees, according to the conditions stipulated in the Long-Term Incentive Plan (LTIP).

 

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It added that it will buy back the shares in multiple tranches over an extended period starting after Aug. 8, 2024.

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