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National Medical Care Co. Announces the Execution of Memorandum of Understanding with Smartmed Investment Company Purchasing National Medical Care Company announces the signing of a non-binding Memorandum of Understanding with Smartmed Investment Company in connection with the sale and purchase of shares in Jiwar Medical Services Company

Element ListExplanation
Introduction National Medical Care Company announces the signing of a non-binding memorandum of understanding with Smartmed Investment Company in connection with the sale and purchase of shares representing 100% of Jiwar Medical Services Company in exchange for cash.
Date of signing the Memorandum of Understanding 2022-07-28 Corresponding to 1443-12-29
Memorandum Duration The MoU shall be effective from the date it is executed by both parties and will terminate upon the earlier of: (i) CARE’s decision to withdraw from it at any time with immediate effect by written notice to the Sellers; or (ii) the execution of the share purchase agreement and definitive agreements.

The non-binding offer shall terminate automatically if the share purchase agreement is not executed by CARE and the Sellers on or before the date that falls six (6) months after the date of the MoU, unless otherwise agreed by the parties in writing.

Name of the Counterparty Smartmed Investment Company
Name of Financial Advisor of Each Party Care has appointed GIB Capital as its financial advisor for the Proposed Transaction
Major Terms in the Memorandum The consideration payable for the Proposed Transaction shall be in cash.

The final value of the Proposed Transaction will be determined based on the results of due diligence reviews as agreed upon by the parties.

Related Parties None
Actions to be Taken by the Company during the Memorandum’s Duration The Proposed Transaction is subject to satisfactory completion of financial, tax and legal due diligence.
Approvals The Proposed Transaction is subject to obtaining the regulatory approvals of the competent authorities.
Additional Information Any material developments regarding the MoU or the Proposed Transaction will be announced in due course.

CARE will announce the financial impact of the transaction after completing all legal procedures in accordance with the applicable regulations.

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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