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Ayyan Investment Company announces recent developments regarding its signing of a share purchase and subscription agreement in relation to a material transaction consisting of the sale of all its shares in Al Ahsa Medical Services Company and Al Salam Medical Services Company to Dallah Healthcare Company

2140
AYYAN
-0.43 %
1446/03/19     22/09/2024 08:04:04

Element ListExplanation
Introduction With reference to the announcement made by Ayyan Investment Company (“Ayyan”) on the Saudi Exchange website on 16-02-1446H (corresponding to 20-08-2024G) regarding the signing of a share purchase and subscription agreement in relation to a material transaction consisting of the sale of shares owned by Ayyan in its following subsidiaries through a single transaction: (1) the sale of all the shares owned by Ayyan in Al-Ahsa Medical Services Company, which represent 97.41% of its share capital, to Dallah Healthcare Company (“Dallah”), and (2) the sale of all the shares owned by Ayyan in Al-Salam Medical Services Company, which represent 100% of its share capital, to Dallah, in exchange for non-cash consideration, consisting of the issuance of new shares by Dallah to Ayyan amounting to 3,893,603 shares, which will represent 3.83% of Dallah’s share capital after the capital increase. There may also be a cash consideration payable to Ayyan or Dallah based on certain conditions specified in the share purchase and subscription agreement (the “Transaction”).

Whereas the Transaction announcement stipulated that the Transaction is subject to a number of conditions, including obtaining the non-objection of the General Authority for Competition, Ayyan is pleased to announce that the General Authority for Competition has issued its non-objection on 16-03-1446H (corresponding to 19-09-2024G) regarding the completion of the economic concentration resulting from the Transaction.

Ayyan notes that the Transaction remains subject to several conditions, including obtaining the approvals of the Capital Market Authority and the Saudi Exchange, as well as obtaining the requisite approvals of the shareholders of Ayyan and Dallah, in addition to other conditions outlined in the Transaction announcement.

Ayyan will provide further announcements as material developments arise concerning the Transaction.

Previous Announcement Ayyan Investment Company’s signing of a share purchase and subscription agreement in relation to a material transaction consisting of the sale of all its shares in Al Ahsa Medical Services Company and Al Salam Medical Services Company to Dallah Healthcare Company
Date of Previous Announcement on Saudi Exchange’s Website 2024-08-20 Corresponding to 1446-02-16
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event The issuance of the non-objection by the General Authority for Competition on 16-03-1446H (corresponding to 19-09-2024G) regarding the completion of the economic concentration resulting from the Transaction.
Reasons For The Delay on The Date of The Event Previously Announced Not applicable.
The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable.
Delay consequences on the Company’s financial results Not applicable.
Additional Information 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 13.98
Net Change -0.06 (-0.43%)
Value Traded (Sar) 4,240,815.74
Volume Traded 302,136
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