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Gulf Union Alahlia Cooperative Insurance Company announces the latest updates on Gulf Union Alahlia Cooperative Insurance Company’s announcement regarding signing a binding merger agreement with AlSagr Cooperative Insurance Company
8120
GULF UNION ALAHLIA
0.39
%
1444/12/30 18/07/2023 08:12:59
| Element List | Explanation |
|---|---|
| Introduction | Further to Gulf Union Alahlia Cooperative Insurance Company (“Company” or “Gulf Union Alahlia”) previous announcement dated 30/08/1444H (corresponding to 22/03/2023G) regarding signing a binding merger agreement with Al Sagr Cooperative Insurance Company, whereby it was agreed to take all the steps required by law to complete the merger transaction in accordance with the provisions of the Companies Law and the Merger and Acquisition Regulations issued by the Capital Market Authority (the “Merger Transaction”), whereas the previous announcement refers to several conditions and approvals required to complete the Merger Transaction, including the issuance of the approval from the Saudi Central Bank (SAMA) and other competent authorities, Gulf Union Alahlia hereby announces the issuance of SAMA’s approval regarding the Merger Transaction on 29/12/1444H (corresponding to 17/07/2023G) and other ancillary matters, noting that the completion of the Merger Transaction remains subject to other conditions including certain regulatory approvals and the affirmative votes of the extraordinary general assemblies of both Gulf Union Alahlia and Al Sagr Cooperative Insurance Company on the Merger Transaction. |
| Previous Announcement | Gulf Union Alahlia Cooperative Insurance Company announcement regarding signing a binding merger agreement with Al Sagr Cooperative Insurance Company. |
| Date of Previous Announcement on Tadawul's Website | 2023-03-22 Corresponding to 1444-08-30 |
| Percentage of fulfilled achievement | Not applicable. |
| Event's Expected Completion Date | Not applicable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable. |
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 10.39
Net Change 0.04 (+0.39%)
Value Traded (Sar) 1,235,830.75
Volume Traded 119,525
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