33 Treasury Shares

Treasury shares represent the cost of 9,400 thousand shares of the Company held by the Company and a subsidiary as at 31 December 2020 (2019: 9,400 thousand shares).

	2020				2019
	Number of shares ’000		AED’000		Number of shares ’000		AED’000
Share held by Finance House PJSC	7,212		13,842		7,212		13,842
Share held by Insurance House PJSC	2,188		7,560		2,188		7,560
	————————		————————		————————		————————
	9,400		21,402		9,400		21,402
	=============		=============		=============		=============

 

During 2014, the Company has obtained the necessary regulatory approvals to undertake a share-buy program whereby the Company buys and sells its own shares in the normal course of its equity trading and marketing activities. These shares are treated as a deduction from shareholders’ equity. Any gain or loss on sales or redemption of own shares are credited or charged to reserves. During 2020, a total of Nil shares (2019: Nil) were purchased back from the market at an average price of AED Nil (2019: AED Nil) per share amounting to AED Nil (2019: AED Nil).