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Al-Etihad Cooperative Insurance Company announces the receipt of notification from one of the major shareholders for the transfer of its shares to other shareholders, including one of the major shareholders.
| Element List | Explanation |
|---|---|
| Announcement Detail | Al-Etihad Cooperative Insurance Company announces that it has received, on March 12, 2024, a notification via e-mail from Trade Union Holding Company B.S.C. (one of the major shareholders), who owns ten million and sixty-two thousand shares (10,062,000) in the company, representing (22.36%) of the shares of Al-Etihad Cooperative Insurance Company, indicating the approval of Capital Market Authority to transfer the securities owned by Trade Union Holding Company B.S.C. (without executing a market transaction) to the portfolios of the shareholders of Trade Union Holding Company B.S.C, who constitute 98.5% of the total shares of Trade Union Holding Company B.S.C, provided that the remaining part will be allocated upon completion of the voluntary liquidation procedures of Trade Union Holding Company B.S.C Thus, the following change occurs in the structure of main shareholders of Al-Etihad Cooperative Insurance Company: 1. Changing the ownership percentage of Al Ahlia Insurance Company K.S.C. from (10%) to become (28.67%) after transferring the shares. 2. Decrease in the ownership percentage of Trade Union Holding Company B.S.C from (22.36%) to become less than 5% threshold of the major shareholders. Any material developments in this regard will be announced in due course. |
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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Company Performance
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Last Price 13.98
Net Change -0.12 (-0.85%)
Value Traded (Sar) 3,119,213.12
Volume Traded 223,743
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