Space42 received Abu Dhabi Securities Exchange approval to buy back 2.5% of its shares. The move aims to boost shareholder value using existing cash reserves.
Our retelling · details in the original publication
Space42, a UAE-based AI-powered SpaceTech company, has officially received approval from the Abu Dhabi Securities Exchange (ADX) to proceed with a share buyback programme. This strategic move allows the company to repurchase up to 2.5 per cent of its issued share capital. The approval follows a positive vote from shareholders during the General Assembly Meeting held in April. The programme is designed to enhance shareholder value and is funded entirely by Space42’s existing cash resources. All buybacks will be conducted through open-market transactions in full accordance with ADX and Capital and Market Authority regulations. To maintain transparency, completed transactions will be disclosed regularly through the exchange. Managing Director Karim Michel Sabbagh noted that the programme reflects the company's robust confidence in its future prospects. Read the full report for more details.
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