ABU DHABI, 14th August, 2026 (WAM) — Space42, the UAE-based AI-powered SpaceTech company with global reach, on Friday announced that its proposed share buyback programme of up to 2.5 percent of the company’s issued share capital, has been approved by the Abu Dhabi Securities Exchange (ADX), following shareholder approval in April at the General Assembly Meeting.
The programme will be funded from the company’s existing cash resources and executed through open-market transactions in accordance with ADX and the Capital and Market Authority’s (CMA) regulations.
All completed buybacks will be regularly disclosed by the company via the ADX website as required under applicable market disclosure rules.
Karim Michel Sabbagh, Managing Director of Space42, commented, “This buyback programme reflects our confidence in Space42’s long-term future and our belief that the current share price undervalues the intrinsic value of the Company. It reinforces our commitment to deliver attractive returns to shareholders, in line with our Financial Framework, and represents a disciplined and efficient deployment of capital.”
The announcement follows the company’s strong first half results for 2026 with revenue increasing 15 percent to US$260 million or AED953 million.
Source: Emirates News Agency