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Ayyan Investment, Dallah Healthcare pen share exchange agreement

Ayyan Investment, Dallah Healthcare pen share exchange agreement
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DALLAH HEALTH
4004
1.66% 159.00 2.60
AYYAN
2140
28.55% 18.46 4.10

Riyadh – Mubasher: Ayyan Investment Company signed a non-binding memorandum of understanding (MoU) with Dallah Healthcare Company to sell the company’s shares in Al Ahsa Medical Services Company.

The proposed deal will be implemented in exchange for issuing new shares in Dallah Healthcare by increasing its capital or through the payment mechanism to be agreed upon by the parties.

Al Ahsa Medical owns Al Ahsa Hospital and Al Salam Medical Services Company, which owns Al Salam Hospital in Al Khobar, according to a bourse filing.

The memorandum will take effect from the signing date of 25 February and will remain in effect for 180 days unless the parties agree otherwise in writing.

Ayyan Investment pointed out that the financial impact will be determined later.

In the first nine months (9M) of 2023, Ayyan Investment incurred net losses after Zakat and tax valued at SAR 144.32 million, an annual hike from SAR 14.83 million.

As of 30 September 2023, Dallah Healthcare posted 25.74% higher net profits after Zakat and tax at SAR 246.47 million, compared to SAR 196.02 million in 9M-22.