Seera shareholders to vote on 10% treasury share buyback on May 30

Logo of Seera Group Holding

Shareholders of Seera Group Holding will vote on the board of directors’ recommendation to repurchase up to 10% of treasury shares during the extraordinary general meeting (EGM) scheduled for May 30.

The board deems that the stock’s market price is less than fair value, according to a statement to Tadawul.

The repurchase will be financed from the company’s resources. The board will be authorized to finalize the repurchase process within 12 months maximum from the EGM date, the statement added.

The repurchased shares will be retained for a period not exceeding five years from the EGM date. After the expiration of this period, the company will follow the procedures and controls stipulated in the relevant laws and regulations.