Gulf General Cooperative Insurance Company announces the latest developments on the announcement of the execution of a non-binding Offer made by BlueFive Investments Holding Limited
| Element List | Explanation |
|---|---|
| Introduction | With reference to Gulf General Cooperative Insurance Company's (“GGI”) announcement dated 09/06/1447H (corresponding to 30/11/2025G) regarding the signing of a non-binding offer by BlueFive Investments Holding Limited (“BlueFive”) on 07/06/1447H (corresponding to 28/11/2025G) (“NBO”), in relation to the subscription of BlueFive to new cash shares in GGI by way of a capital increase with suspension of pre-emptive rights of the current shareholders (“Proposed Transaction”).
GGI would like to announce that it was agreed on 03/08/1447H (corresponding to 22/01/2026G) with BlueFive to extend the term of the NBO for an additional period lapsing on 25/09/1447H (corresponding to 14/03/2026G), in order to provide sufficient time to complete the procedures stipulated in the NBO required before concluding the definitive agreements for the Proposed Transaction. |
| Previous Announcement | The execution of a non-binding offer made by BlueFive Investments Holding Ltd to subscribe to new cash shares in Gulf General Cooperative Insurance Co. by way of a capital increase with suspension of pre-emptive rights |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-11-30 Corresponding to 1447-06-09 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Extension of the term of the NBO for an additional period commencing from 05/08/1447H (corresponding to 24/01/2026G) until 25/09/1447H (corresponding to 14/03/2026G).
All other provisions of the NBO remain unchanged. |
| Reasons For The Delay on The Date of The Event Previously Announced | The extension of the term of the NBO in order to provide sufficient time to complete the procedures stipulated in the NBO which are required before concluding the definitive agreements for the Proposed Transaction. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Delay consequences on the Company’s financial results | Not applicable |
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