{"id":92064,"date":"2024-12-01T00:00:00","date_gmt":"2024-12-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/"},"modified":"2024-12-01T00:00:00","modified_gmt":"2024-12-01T00:00:00","slug":"cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/","title":{"rendered":"CMA introduces amendments to share buyback + treasury share sale rules"},"content":{"rendered":"

Listed companies\u2019 share buyback and treasury share sale operations now <\/strong>have<\/strong> greater leeway in terms of volumes and timelines<\/strong> after the Capital Market Authority (CMA) approved amendments to The Implementing Regulation of the Companies Law for Listed Joint Stock Companies (pdf)<\/a>, it said in a statement<\/a>. The changes look to boost capital market efficiency and enhance flexibility by lifting restrictions to listed firms engaging in share buyback and sale operations. The amendments and updated regulations will come into effect once they are published. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

ICYMI:<\/strong> The CMA put up draft amendments to the regs of the Companies Law for Listed Joint Stock Companies for feedback on the Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform) in early June. <\/p>\n

What has changed?<\/strong> Listed companies now have 18 months to execute shareholder-approved share buybacks, up from a previous 12-month limit. Firms can now also buy back or sell treasury shares at up to 25% of the previous five trading days\u2019 average daily volumes. The previous regs capped volumes for share buybacks to amounts approved by the general assembly, while treasury share sale volumes were limited to an amount that had been approved by the company\u2019s board and did not conflict with shareholder decisions regarding the buyback of those shares. <\/p>\n","protected":false},"excerpt":{"rendered":"

The amendments will be effective upon publication of the new regs<\/p>\n","protected":false},"author":1,"featured_media":92065,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2644],"tags":[202,2419,10,344],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-capital-market-authority","tag-capital-markets","tag-enterpriseam-ksa","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"20e8cffe-23bf-4dd7-93f4-cdba6bb67c24","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2077.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CMA introduces amendments to share buyback + treasury share sale rules","related_issue":[92055],"teaser":"The amendments will be effective upon publication of the new regs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.e06dc5cc-c52b-4ed8-a6be-c905b7904b84.mp3"},"yoast_head":"\nCMA introduces amendments to share buyback + treasury share sale rules - 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