On August 4, 2026, United Electronics Company (eXtra) announced its Board of Directors' recommendation, dated August 3, 2026, to buy back up to 2,494,396 ordinary shares to be held as treasury shares, representing a current treasury share holding of 6.88% of the total share class. The buyback will be financed through the company's internal resources, driven by the Board's belief that the company's market share price is below its fair value. The transaction is subject to Extraordinary General Assembly approval and must meet financial solvency requirements under the Implementing Regulations of the Companies Law, and purchased shares will carry no voting rights at General Assembly meetings.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.