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Middle East Healthcare Company (Saudi German Health) Announcement About the Press Release

SAUDI GERMAN HEALTH 4009 0.58% 69.40 0.40
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Announcement Detail Middle East Healthcare Company (Saudi German Health) commented on the statement transmitted by public electronic news through the television interview with Makarem Sobhi Batterjee, Vice Chairman of the Board of Directors, on Tuesday, 18/07/1445H corresponding to 30/01/2024, which included the following:

⁃ Group share is cheap compared to group size, number of beds and clinics

⁃ The group's market value is about 9 billion riyals, but the normal rate is between 20-25 billion.

In compliance with the company's duty to its shareholders and based on the controls of the CMA and the Market Conduct Regulation, the company wishes to clarify the following:

1) The news was quoted in a different way from the television interview, where Makarem Sobhi Batterjee indicated by his television interview in his statement that he is committed to the systems and disclosure as a public joint stock company. When asked about his expectations for the future of the group, he indicated that it was in Allah's will and that the future would be greater. Based on the broadcaster's statement in her question that Saudi German health profits rose during year 2023. As everyone knows, the company's profits rose by about 241 percent during the first nine months of 2023, yielding SAR 143.7 million compared to SAR 42 million in the same period from year 2022.

2) The declaration of the value of the share and the market value of the company was not based on internal information but on future projections based on development, restructuring, company size, number of beds, clinics and spread of the company's branches compared to other health companies.

Finally, the company asserts that any financial information or material disclosures related to the company are only what is posted on Tadawul Saudi Exchange website.

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