Wataniya Insurance Company Announces Receiving a Letters from one of the Substantial Shareholders
| Element List | Explanation |
|---|---|
| Announcement Detail | Wataniya Insurance Company announces that it has received a letter (by e-mail) from Private Wealth Investment Holding Company, stating their notification of selling their shares in Wataniya 4,000,000 shares with a percentage of 10% from Wataniya’s Capital, with a total Value of the transaction of SR. 75,040,000 only to group of investments funds and individuals funds, this will be done through a private sale transaction.
All related regulatory’ s non objections were obtained for the transaction.
The outcome after the completion of the transaction will be as follows:
1) Private Wealth Investment Holding Company will No longer be a shareholder in Wataniya Insurance Company.
2) None of the buying investments funds nor individuals will hold 5% or more of Wataniya’s shares. |
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