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Allied Cooperative Insurance Group announces receipt of a letter from one of the company’s major shareholders
| Element List | Explanation |
|---|---|
| Announcement Detail | Allied Cooperative Insurance Group announces its receipt of a letter (via email) from Tharwaa Gulf Holding Company, which includes their notification to the Allied Cooperative Insurance Group of the sale of their entire share in the company, representing 4,364,999 shares, which represents 15% of the capital of the Allied Cooperative Insurance Group, at a value of SR 15 per share for a total deal amount of SR 65,474,985 to Private wealth Investment Holding Company, through a private sale deal. It should be noted that the regulatory no-objections were obtained from the concerned authorities in this deal After the transaction is completed, the following will result 1- Tharwaa Gulf Holding Company will not become the owner of any share or shares in Allied Cooperative Insurance Group. 2- Private wealth Investment Holding Company becomes the owner of 15% of the shares of Allied Cooperative Insurance Group. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 21.14
Net Change -0.16 (-0.75%)
Value Traded (Sar) 25,519,724.76
Volume Traded 1,182,236
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