| Introduction | Saudi Telecom Company (stc) announces the decision of its Board of Directors to recommend to the Extraordinary General Assembly to buy-back an amount of its shares for the purpose of allocating them within the Employee Stock Incentive Plan. |
| Board of director’s recommendation date | 2025-12-31 Corresponding to 1447-07-11 |
| Purpose of Purchase | Keep them as treasury shares |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | To be allocated for Employee Stock Incentive Plan. |
| Number of Shares to be Bought | 26000000 |
| Shares Class and type | Ordinary Shares |
| Method of Financing the Purchasing Process | The buy-back of shares will be financed through the company’s own resources |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 0.204% |
| Approvals and Meeting the Conditions of Financial Appropriateness | Voting for this recommendation would take place during the coming Extraordinary General Assembly which will be announced later, as per the requirements of paragraph (4) of article (17) of Implementing Regulations of the Company Law for Listed Joint Stock. The company shall fulfil all the Solvency requirements mentioned in paragraph (3) of article (17) of Implementing Regulations of the Company Law for Listed Joint Stock, and a report from the external auditor will be submitted as per the requirements of this paragraph. |
| Voting Right | The purchased shares will have no voting rights in the company’s shareholders’ General Assemblies. |
| Additional Information | The shares allocated to employees will not be entitled to any dividends during the period the company holds them. |
