Alqanoni

Companies Law

Art. 114
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. The company may purchase its own shares or accept them as a pledge if permitted under its articles of association. Shares purchased by the company shall have no voting rights in shareholder assemblies. 2. Shares may be pledged and the pledgee may receive dividends and exercise share-related rights, unless the pledge agreement stipulates otherwise. The pledgee may not attend shareholder assembly meetings nor vote therein. 3. The Regulations shall specify the rules necessary for the implementation of the provisions of this Article.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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