Maharah Human Resources Company (“Maharah”) announces the latest updates on signing a non-binding MOU between its 100% owned subsidiary - Growth Avenue Investment Company (“buyer”) - and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company Ltd. (Kingdom Hospital & the Consulting Clinics)
| Element List | Explanation |
|---|---|
| Introduction | Reference is made to Maharah announcement on Tadawul website on 04 Muharram 1444 H, corresponding 08 August 2022, regarding the singing of a non-binding MOU between Maharah’s 100% owned subsidiary (Growth Avenue Investment Company (“GAC” or “buyer”) and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity (41.36%) in Care Shield Holding Company (Kingdom Hospital & the Consulting Clinics).
Maharah would like to announce that on 27 Muharram 1444H corresponding to 25 August 2022, GAC received a certificate of "no obligation to report" from the General Authority of Competition with regards to the acquisition transaction. Therefore, parties to the transaction can proceed with completion of the transaction. |
| Previous Announcement | Signing a Sales and Purchasing agreement between GAC and both El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company Ltd. (Kingdom Hospital & the Consulting Clinics) |
| Date of Previous Announcement on Tadawul's Website | 2022-08-02 Corresponding to 1444-01-04 |
| Percentage of fulfilled achievement | 90% of the acquisition transaction |
| Event's Expected Completion Date | NA |
| Reasons for Exceeding the Announced End Date | NA |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | NA |
| Impact of the Delay on the Company's Financial Results | NA |
| Additional Information | Buyer and Sellers will proceed with the completion of the acquisition process after satisfying all conditions precedent to closing. Further updates on closure and transfer of shares will be announced accordingly. |
Comments