Riyadh — Mubasher: The shareholders of Sport Clubs Company approved a plan to repurchase up to 1.45 million ordinary shares during an extraordinary general meeting (EGM) held on 19 October 2026.

The shares will be held as treasury stock to support a forthcoming employee stock program.

The buyback will be financed through the company’s internal resources. Shareholders authorized the board of directors to complete the execution of the purchase within a maximum period of 12 months from the date of the resolution.

Sport Clubs intends to hold these shares for a duration of four years before allocating them to eligible employees.

The resolution passed with 97.1763% of the votes in favor. Additionally, shareholders approved the establishment of the employee stock program itself, granting the board the authority to determine specific terms, including the allocation price per share.

The meeting was conducted via modern technology at 19:30 following an initial adjournment due to a lack of legal quorum at 18:30.

The attendance rate for the second session reached 28.31853%.

Board members in attendance included Chairman Ammar Abdulwahed Al Khudairi and Vice Chairman Abdulilah Saad Aldrees.