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Arabian International Healthcare Holding Co. Announces Signing an Agreement for Acquisition of Innovative Care Company - New You Medical Center

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Introduction Arabian International Healthcare Holding Company (“TIBBIYAH”) listed on the Saudi Exchange Market (“Nomu”) under (SYMBOL: TIBBIYAH/9530) (ISIN:SA15H194KT19), a leading integrated healthcare solutions provider in the Kingdom, today announced that it has entered into a definitive agreement to acquire a majority stake in Innovative Care Company, the ultimate owner of the prominent Riyadh-based medical and beauty center, New You Medical Center.

The Transaction represents TIBBIYAH’s first major investment in the healthcare services vertical, being a milestone that is in line with its strategy to become a diversified healthcare holding company. Eventually, with a compelling value creation proposition for TIBBIYAH and its shareholders, the acquisition is value accretive, with a clear plan to grow the business.

Date of Signing the Agreement 2022-03-10 Corresponding to 1443-08-07
Name of (the Acquired Company)/(Asset to be Purchased) Innovative Care Company - New You Medical Center
Value of (The Company to be Acquired)/(The Asset to be Purchased) Mentioned Acquisition will be through a combination of initial cash consideration at closing and potential earn-out consideration, contingent on future financial performance of the NEW YOU business
Value of the listed company not applicable
Capital before Increase 200,000,000
Number of Shares before Increase 20000000
Value of capital increase 0
Capital Increase Percentage (%) 0 %
Capital After Increase 200,000,000
Number of Shares After Increase 20000000
Share Exchange Equation (Ratio) not applicable
Potential Effects or Risks for Issuing such Shares on the Shareholders of the Current Company, the Company, and Decision Making thereon not applicable
Listed Company's Ownership Percentage in (Company to be Acquired)/(Asset to be Purchased) after the Issuance of Shares (%) 51 %
Ownership Percentage of Shareholders to Whom New Shares will be Issued after Conclusion of the Acquisition (%) 0 %
Additional Information or Substantial Conditions The definitive agreements are subject to a number of pre-closing conditions, including, without limitation, obtaining the approval of the General Authority for Competition as well as other conditions of a regulatory and commercial nature.
Related Parties not applicable
The expiry date of the agreement 180 days from signing date.
Agreement Termination Terms As per the Agreement
Approvals The definitive agreements are subject to a number of pre-closing conditions, including, without limitation, Board of Directors approval, and obtaining the approval of the General Authority for Competition as well as other conditions of a regulatory and commercial nature.

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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