31 Treasury shares

Treasury shares represent the cost of 28,569 thousand shares of the Company held by the Company as at 31 December 2023 (2022: 26,354 thousand shares).

 

	2023				2022
	Number of shares ’000		AED’000		Number of shares ’000		AED’000
Share held by Finance House P.J.S.C	28,569		51,196		26,354		46,535
	28,569		51,196		26,354		46,535

 

During 2021, the Company obtained 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. Gain and loss on sales or redemption of own shares are credited or charged to reserves. During 2023, a total of 2,214,844 shares (2022: 8,695,156 shares) were purchased back from the market at an average price of AED 2.10 (2022: AED 1.92) per share amounting to AED 4,661 thousand (2022: AED 16,712 thousand).