- Share buyback program of up to 2.5% of the Company’s issued share
capital - Underscores commitment to delivering enhanced, sustainable returns to
shareholders
Abu Dhabi, UAE, August 14, 2026: Space42, the UAE-based AI-powered
SpaceTech company with global reach, today announced that its proposed share
buyback program of up to 2.5% 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 program 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 program 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% to USD 260 Mn or AED 953 Mn.
– Ends –
About Space42
Space42 (ADX: SPACE42) is a UAE-based AI-powered SpaceTech company that
integrates satellite communications, geospatial analytics and artificial intelligence
capabilities to enlighten the Earth from space. Formed in 2024 by the merger of
Bayanat and Yahsat, Space42’s global reach allows it to address the rapidly
evolving needs of its customers in governments, enterprises, and communities.
Space42 comprises two business units: Space Services and Smart Solutions.
Space Services focuses on upstream satellite operations for both fixed and
mobility satellite services. Smart Solutions integrates geospatial data acquisition
and processing with AI to inform decision-making, enhance situational awareness,
and improve operational efficiency. Major shareholders include G42, Mubadala and
IHC.
For more information, visit: www.space42.ai; follow us on LinkedIn: Space42 For
investor inquiries, please contact: ir@space42.ai
Legal Notice and Cautionary Statement Regarding Forward-Looking
Information
This announcement may include forward-looking statements, which are based on
current expectations and projections about future events. These statements may
include, without limitation, words such as “expect”, “will”, “looking ahead” and
any other words and terms of similar meaning. These forward-looking statements
are subject to risks, uncertainties and assumptions about the Company and its
subsidiaries and its investments and speak only as of the date of this
announcement. Forward-looking statements are based on assumptions of future
events and information currently available to the Company which may not prove
to be accurate, and the Company does not accept any responsibility for the
accuracy or fairness thereof and expressly disclaims any obligation to update any
such forward-looking statement. No representation or warranty is made that any
forward-looking statement will come to pass. You are therefore cautioned not to
place any undue reliance on forward-looking statements. Neither this
announcement nor anything contained herein constitutes a financial promotion, or
an invitation or inducement to acquire or sell securities in any jurisdiction.
