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ADDENDUM ANNOUNCEMENT: BUPA INVESTMENT OVERSEAS LIMITED COMPLETES INCREASE IN STAKE IN BUPA ARABIA TO 39.25% WITH NAZER GROUP CONTINUING TO REMAIN A LONG-TERM SHAREHOLDER

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BUPA ARABIA
-1.07 %
1439/11/25     07/08/2018 15:12:11

Further to the Tadawul announcement of 15/03/2018G, which confirmed Bupa Investment Overseas Limited's intention to increase its shareholding in Bupa Arabia, from 34.25% to 39.25%, following an agreement for the acquisition of a 5% portion of the Nazer Group's stake, Bupa Arabia would now like to inform its shareholders of the completion of the sale arrangements, between Bupa Investment Overseas Limited and the Nazer Group, by the purchase by Bupa Investment Overseas Limited of this stake from the Nazer Group companies, ASAS Health Care Company Limited (0.09%), and Modern Computer Programs Company Limited (4.91%), on 07/08/2018G. The transaction was concluded at the agreed price of SAR 100 per share, totaling SAR 400 million, and reflecting the partners' confidence in the strong future prospects of Bupa Arabia.

As previously announced, the Nazer Group will continue to remain as a long-term shareholder in Bupa Arabia. Both parties are pleased to confirm that Mr. Loay Nazer intends to continue as the Chairman of the Bupa Arabia Board and Mr. Tal Nazer as CEO.

Additionally, Bupa Arabia would also like to inform all of its shareholders of the Capital Market Authority (CMA) exceptional approval for Bupa Arabia to be allowed to exceed the 49% foreign ownership restriction, to a maximum foreign ownership level of up to 60%.

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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Key Parameters
Last Price 240.0
Net Change -2.6 (-1.07%)
Value Traded (Sar) 33,122,056
Volume Traded 137,563
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