Riyadh - Mubasher: Shatirah House Restaurant Company (Burgerizzr) intends to purchase 1.30 million of its own shares to hold as treasury shares, according to a bourse disclosure.
One million of the repurchased shares will be allocated for swap transactions tied to acquisitions of shares or stakes in a company or the purchase of an asset.
The remaining 300,000 shares will be allocated to its employee stock incentive program to back strategic objectives.
Burgerizzr noted that the purchase will be financed through bank facilities, internal resources, or both.
The proposed number of shares to be purchased represents 2.32% of the company’s total issued share capital.
