The Moroccan Capital Market Authority has approved the prospectus for a share buyback programme to be launched by Itissalat Al Maghrib. The programme would allow the company to hold up to 1,500,000 shares, representing 0.17% of its share capital. It sets a maximum purchase price of MAD 145 per share and a minimum selling price of MAD 61 per share, each with a corresponding value in euro, and would run from 11 April 2025 to 9 October 2026. An excerpt of the prospectus will be published in a legal announcements newspaper and on the issuer’s website, while the full prospectus will be made available free of charge to requesting shareholders and published on the websites of Itissalat Al Maghrib, the Casablanca Stock Exchange and the AMMC. The buyback programme is scheduled to be submitted for authorisation to the ordinary general meeting on 27 March 2025.
Moroccan Capital Markets Authority 2025-03-12
Moroccan Capital Market Authority approves Itissalat Al Maghrib prospectus for 1.5 million share buyback programme
The Moroccan Capital Market Authority approved Itissalat Al Maghrib's prospectus for a share buyback programme, allowing up to 1,500,000 shares, or 0.17% of its share capital. The programme sets a maximum purchase price of MAD 145 and a minimum selling price of MAD 61 per share, running from 11 April 2025 to 9 October 2026. The prospectus will be published in a legal announcements newspaper and on relevant websites, pending authorisation at the ordinary general meeting on 27 March 2025.