Arabian Cement - cancels previous recommendation to buy-back its shares

Arabian Cement Company (3010.SR) has revised its previous recommendation to repurchase up to 150,000 of its shares, which had been proposed as part of its Long-Term Incentive Program (LTIP) for employees. The company had previously outlined plans to buy back the shares using its own resources, with the intention of allocating them to its employee share program, subject to shareholder approval. However, as of June 7, 2026, the company has not proceeded with the repurchase, and no further details have been provided regarding the change in strategy.

The company is scheduled to hold an extraordinary general meeting (EGM) on June 15, 2026, where shareholders will consider several key proposals, including the transfer of SAR 500 million in statutory reserves and SAR 95 million in general reserves to retained earnings. Shareholders will also vote on the development of the employee shares program and the authorization of the board to determine its terms. While the share repurchase proposal remains on the agenda, its status has not yet been confirmed for implementation. Investors are advised to monitor the outcome of the EGM for clarity on the company’s capital management strategy.