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Amana Cooperative Insurance Co. Announces an update on Amana announces the latest update about the signing of a non-binding Memorandum of Understanding with Allied Cooperative Insurance Group (ACIG) to evaluate a potential merger between the two companies
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of Amana Cooperative Insurance Company dated 08/02/1444 AH corresponding to 04/09/2022 AD regarding the signing of a non-binding memorandum of understanding with the Allied Cooperative Insurance Group (ACIG) in order to evaluate the feasibility of merging the two companies, Amana Cooperative Insurance Company announces the termination of the non-binding memorandum of understanding and all negotiations related to the merger process with Allied Cooperative Insurance Group (ACIG), based on the desire of both parties after conducting the necessary studies. The termination will not have any material financial impact. |
| Previous Announcement | Amana announces the latest update about the signing of a non-binding Memorandum of Understanding with Allied Cooperative Insurance Group (ACIG) to evaluate a potential merger between the two companies |
| Date of Previous Announcement on Tadawul's Website | 2023-09-03 Corresponding to 1445-02-18 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| Reasons for Exceeding the Announced End Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Impact of the Delay on the Company's Financial Results | N/A |
| Additional Information | N/A |
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 7.85
Net Change 0.08 (+1.03%)
Value Traded (Sar) 4,049,747.84
Volume Traded 509,563
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