ADES Holding Company announces the latest development on the proposed merger with Shelf Drilling, Ltd. and confirms expected completion date
| Element List | Explanation |
|---|---|
| Previous Announcement | ADES Holding Company announces the latest development on the signing of the Transaction Agreement to acquire all issued and outstanding shares of Shelf Drilling, Ltd., where the shareholders of Shelf Drilling, Ltd. approved the Proposed Merger with the requisite majority (99.6% of the votes cast in favor of the Merger). |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-08-07 Corresponding to 1447-02-13 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Reference is made to the stock exchange announcement as of October 7, 2025, regarding the approval of the Proposed Merger with the requisite majority (99.6% of the votes cast in favor of the Merger) between Shelf Drilling, Ltd. (“Shelf Drilling” or the "Company"), ADES International Holding, Ltd. ("ADES") and ADES International Cayman ("BidCo") (the "Proposed Merger").
ADES is pleased to confirm that the parties remain on track to satisfy all customary closing conditions required to complete the Merger.
Completion of the Merger is expected to occur on November 25, 2025 in line with the previously communicated timetable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
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