FITNESS TIME Plans to Buy 200,000 Shares for Employee Incentive Program

Leejam Sports Company has announced that its Board of Directors has approved the purchase of up to 200,000 of its own shares, intended for the company’s employee long-term incentive program. This announcement was made public on Sunday through a statement released on Tadawul.

The initiative to buy back shares for employee incentives will be put to a vote at the next Extraordinary General Assembly meeting, the date of which will be announced later. This step is in accordance with the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.

Furthermore, the company will ensure financial solvency conditions are satisfied, as evidenced by a report from the company’s external auditor. This report will be included in the invitation to the extraordinary general assembly, which will decide on the matter.

It was also noted that the shares acquired for this program will not carry voting rights at the General Assembly meetings.