Arabian Shield Cooperative Insurance Co. Announces an update on Arabian Shield Cooperative Insurance Co. announces signing a Memorandum of Understanding with Alinma Tokio Marine Co to evaluate a potential merger between the two companies.
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Arabian Shield Cooperative Insurance Co. (the “Company”) on Tadawul dated 20-05-1444 AH corresponding to 14-12-2022 AD, related to the announcement of the Company that it had signed a non-binding memorandum of understanding with Alinma Tokio Marine Insurance Co. on 19-05 -1444 AH corresponding to 13-12-2022 AD, in order to assess the feasibility of merging the two companies.
The company would like to announce the appointment of AlJazira Capital as its financial advisor in connection with the proposed merger with Alinma Tokio Marine Co. |
| Previous Announcement | Arabian Shield Cooperative Insurance Co. announces signing a Memorandum of Understanding with Alinma Tokio Marine Co to evaluate a potential merger between the two companies. |
| Date of Previous Announcement on Tadawul's Website | 2022-12-14 Corresponding to 1444-05-20 |
| Percentage of fulfilled achievement | Not Applicable |
| Event's Expected Completion Date | Not Applicable |
| Reasons for Exceeding the Announced End Date | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not Applicable |
| Impact of the Delay on the Company's Financial Results | Not Applicable |
| Additional Information | For any future developments in this regard, the company will announce them at the time. |
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