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Mouwasat Medical Services Co. announces signing a Memorandum of Understanding with Al-Marasem International Hospital in Arab Republics of Egypt

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Introduction Mouwasat Medical Services concluded a non-binding MEMORANDUM of understanding to purchase 100 % of the entire stakes of The Al-Marasem International Hospital, Egyptian limited joint stock company to be 100% owned by Mouwasat Medical Services company after reaching a final agreement in cash and after the completion of the due diligence work.
Memorandum Signing Date 2022-05-22 Corresponding to 1443-10-21
Counterparty Al-Marasem International Hospital in Arab Republics of Egypt
Memorandum Subject Understanding to reach a final agreement to buy 100% of the entire shares of the owners of Al-Marasem International Hospital in Arab Republic of Egypt . This memorandum aims to define the framework of understanding on the initial mutual obligations and rights between the parties regarding the procurement process. The parties also agreed to determine the value of the transaction after the completion of the due diligence work.
Memorandum Duration This Memorandum will be in operation from the date of its signing for three months - renewable.
Related Parties NA
Financial Impact The financial impact on the company's financial results will appear after the transaction is completed.
Additional Information Any substantial developments regarding the MEMORANDUM of Understanding or Transaction will be announced in due course

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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