| Element List |
Explanation |
| Introduction |
Further to Gulf Union Alahlia Cooperative Insurance Company (“Company” or “Gulf Union Alahlia”) previous announcement dated 30/08/1444H (corresponding to 22/03/2023G) regarding signing a binding merger agreement with Al Sagr Cooperative Insurance Company, whereby it was agreed to take all the steps required by law to complete the merger transaction in accordance with the provisions of the Companies Law and the Merger and Acquisition Regulations issued by the Capital Market Authority (the “Merger Transaction”), whereas the previous announcement refers to several conditions and approvals required to complete the Merger Transaction, including the issuance of the approval from the Saudi Central Bank (SAMA) and other competent authorities, Gulf Union Alahlia hereby announces the issuance of SAMA’s approval regarding the Merger Transaction on 29/12/1444H (corresponding to 17/07/2023G) and other ancillary matters, noting that the completion of the Merger Transaction remains subject to other conditions including certain regulatory approvals and the affirmative votes of the extraordinary general assemblies of both Gulf Union Alahlia and Al Sagr Cooperative Insurance Company on the Merger Transaction. |
| Previous Announcement |
Gulf Union Alahlia Cooperative Insurance Company announcement regarding signing a binding merger agreement with Al Sagr Cooperative Insurance Company. |
| Date of Previous Announcement on Tadawul's Website |
2023-03-22 Corresponding to 1444-08-30 |
| Percentage of fulfilled achievement |
Not applicable. |
| Event's Expected Completion Date |
Not applicable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
Not applicable. |
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