Oasis Capital has announced that it received approval from the Abu Dhabi Securities Exchange for its board’s proposal to implement a share buyback program, aiming to repurchase up to 10% of the company’s issued capital. This proposal was endorsed by shareholders during a recent general assembly meeting.
The implementation of the program will be carried out through open market transactions, in compliance with the market regulations and the Securities and Commodities Authority. The pace and volume of the buyback operations will be determined based on market conditions and developments.
Mohammed Hussain Al-Nuaimi, Manager at Oasis Capital, stated that the program demonstrates the board’s confidence in the company’s future prospects. He added that the current share price does not reflect the true intrinsic value of the company. The buyback program is viewed as a strategic and disciplined approach to capital allocation, reinforcing the company’s focus on delivering long-term value and providing substantial returns to its shareholders.
Recently, the company reported a 22% year-on-year increase in net profits attributable to shareholders, reaching 343 million dirhams for the nine months ending September 30, 2025.