─ The end of the creditors' objection period by end of the day Friday 14th Rajab 1442H (corresponding to 26th February 2021G) with no outstanding objections from Solidarity’s Creditors.

─ Receipt of two separate objections from Solidarity’s creditors pertaining to existing claims previously filed against the company and currently awaiting final judgement from a competent court in the kingdom of Saudi Arabia. Given that Solidarity’s ultimate liability pertaining to these two claims is still subject to a final judgement from the competent court, these potential liabilities and/or debts are not currently due and are at most future debt for the purposes of the provisions of Article (193) of the Companies Law. Accordingly, AJT as the surviving entity, in line with its shareholders’ resolution approved during the extraordinary general assembly meeting on 13/06/1442H (corresponding to 26/01/2021G), has provided a written undertaking assuming full responsibility to settle these potential future debts of Solidarity, if they are determined to have materialized and become due in the future.

─ Effectiveness of the merger between Solidarity and AJT: Accordingly, Solidarity has expired and all its assets and liabilities have transferred to AJT, which entity will continue to exist. As a result of the merger deal, all the shares of Solidarity will be cancelled, and AJT will implement this by increasing its capital and issuing (12,066,403) new ordinary shares in Aljazira Takaful Company, with a par value of ten (10) riyals per share. These shares will be in favor of Solidarity shareholders, who are registered in Solidarity shareholders Register at Edaa at the end of the trading period on Thursday 13/07/1442H (corresponding to 25/02/2021G).

For updates on the subsequent steps related to the effectiveness of the merger, please track the announcements of AJT in this regard.