Jahez International Company for Information System Technology (Jahez) announces the completion of the first phase of the Transaction, relating to the purchase of 75% of the share capital of Snoonu.
| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement made by Jahez International Company for Information System Technology (“Jahez”) on the Saudi Stock Exchange (Tadawul) website on 14/01/1447H (corresponding to 09/07/2025G) regarding the signing of a share purchase and subscription agreement for the acquisition of an overall 76.56% stake in Snoonu Corporation Holding LLC (“Snoonu”) (the “Transaction”) and Jahez’s announcement on 10/04/1447H (corresponding to 02/10/2025G) regarding the latest developments relating to the Transaction, Jahez announces the completion of the first phase of the Transaction, relating to the purchase of 75% of the share capital of Snoonu. |
| Acquisition Procedures Conclusion Date | 2025-10-06 Corresponding to 1447-04-14 |
| Summary of Acquisition / Purchase | The first phase of the Transaction was completed through the purchase of seven million nine hundred one thousand and three hundred three (7,901,303) shares, representing seventy-five percent (75%) of Snoonu’s share capital.
Following the completion of the Transaction, Jahez will subscribe to seven hundred two thousand and three hundred thirty-eight (702,338) shares representing one and fifty-six hundred percent (1.56%) of Snoonu’s share capital, and the market will be notified accordingly. Following the completion of the Transaction, Jahez’s overall ownership stake will reach 76.56% of Snoonu’s share capital, while the founder Hamad Mubarak Al Hajri will retain the remaining 23.44%.
The Transaction’s consideration has been funded part in: (a) cash through Jahez’s own resources; and (b) shares through existing treasury share held by Jahez. |
| Related Parties | The Transaction does not involve related parties. |
| Financial Impact | The financial impact of the Transaction will be reflected in Jahez’s financial statements for the financial year ending 31 December 2025. |
| Ownership and Legal Documents Transfer Conclusion Date | 14/04/1447H (corresponding to 06/10/2025G). |
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