Riyadh — Mubasher: Edarat Communication and Information Technology Company has invited its shareholders to an extraordinary general meeting (EGM) scheduled for 17 September 2026 to vote on a proposal to buy back up to 15,000 shares.
The buyback represents 0.20% of the company's total shares and is intended for an employee stock incentive program, according to a bourse filing.
Edarat plans to finance the purchase through its own financial resources. If approved, the board of directors will be authorized to complete the transaction within a maximum of 18 months from the date of the assembly's decision.
The company will hold the treasury shares for a maximum period of five years until they are allocated to eligible employees.
The EGM agenda also includes voting on the election of board members for a new three-year term beginning 17 September 2026.
Financial disclosures accompanying the invitation show the company’s total assets stood at SAR 163.77 million as of 30 June 2026, with total liabilities of SAR 50.01 million.
Meanwhile, the estimated cost for the share buyback is SAR 5.25 million, based on a projected price of SAR 350 per share.
Edarat noted that the meeting will be conducted via modern technology at 19:00 Riyadh time.
