IssuerAnnouncementDetailsV2Portlet
Actions
Buruj Cooperative Insurance Company announces that it has received a letter from the founding shareholder, Gulf Insurance Group (GIG).
| Element List | Explanation |
|---|---|
| Announcement Detail | Buruj Cooperative Insurance Company announces receiving a letter from the founding shareholder, Gulf Insurance Group (GIG), numbered (12 / 2024), dated 05/08/1445H corresponding to 15/02/2024G. The company is a Kuwaiti public shareholding company established according to Kuwaiti laws. The letter indicates that Gulf Insurance Group has entered into a binding share share sale and purchase agreement with the founding shareholder, Cigalah Trading Establishment, on 05/08/1445H corresponding to 15/02/2024G. According to the agreement, Gulf Insurance Group (GIG) will sell all its shares in Buruj Cooperative Insurance Company, which amounts to 8,550,000 shares representing 28.50% of the company's capital, to the founding shareholder, Cigalah Trading Establishment. This will be done through a private sale transaction for a total of 121,837,500 Saudi Riyals ("the Transaction"). However, the Transaction is subject to various conditions, including obtaining approval from regulatory authorities. Once the transaction is completed and the shares are transferred between the shareholders, there will be a change in the main shareholders of the company. Any significant developments will be announced, and upon transfer of shares between shareholders. |
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.
Share
Company Performance
Key Parameters
Last Price 0.0
Net Change 0.0 (0.0%)
Value Traded (Sar) 0
Volume Traded 0
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions