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SABB Takaful Company announces that the end of the creditors ’objection period related to the merger transaction between SABB Takaful Company and Walaa Cooperative Insurance Company will expire soon.
| Element List | Explanation |
|---|---|
| Announcement Detail | Reference to SABB Takaful Company (“SABB Takaful”) announcement on the Saudi Stock Exchange’s (Tadawul) website on 22/02/1444H (corresponding to 18/09/2022) regarding the start of the creditors’ objection to the merger transaction between SABB Takaful and Walaa Cooperative Insurance Company (“Walaa”) in accordance with the provisions of Article (193) of the Companies Law, SABB Takaful wishes to remind that the creditors ’objection period will expire at the end of the day on Wednesday 22/03/1444H (corresponding to 18/10/2022G). Under the Companies Law, the merger decision will take effect immediately after the creditors’ objection period has elapsed, in the absence of any existing objection from SABB Takaful creditors to the merger transaction. For more details about the merger transaction, shareholders should refer to the Offer Document issued by Walaa and the Board Circular of SABB Takaful issued by the Board of Directors of SABB Takaful. |
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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