Saudi Enaya Cooperative Insurance Co. Announces an update on Saudi Enaya Cooperative Insurance Company announces signing a Binding Merger Agreement with Amana Cooperative Insurance Company
|Introduction||Further to the announcement made by Saudi Enaya for Cooperative Insurance Co. (“ Enaya”) published on Tadawul website dated 20/09/1442H corresponding to 02/05/2021G (the “Announcement”) in connection with Enaya signing a binding merger agreement to merge with Amana for Cooperative Insurance Co. (the “Agreement”), and with reference to the conditions precedent section of the Agreement which stipulates that the conditions precedent should be satisfied within six months as of the date of signing the Agreement. |
Enaya is pleased to announce to its shareholders that a deed of variation to the Agreement was signed, under which it was agreed with Amana for Cooperative Insurance Co to amend the date of satisfying the conditions precedent so that such date would be twelve months as of the date of signing the Agreement instead of six months, and therefore the Longstop Date for satisfying the conditions precedent will be twelve months as of the date of signing the Agreement.
|Previous Announcement||Saudi Enaya Cooperative Insurance Company announces signing a Binding Merger Agreement with Amana Cooperative Insurance Company|
|Date of Previous Announcement on Tadawul's Website||2021-05-02 Corresponding to 1442-09-20|
|Percentage of fulfilled achievement||Not applicable|
|Event's Expected Completion Date||Not applicable|
|Reasons for Exceeding the Announced End Date||Not applicable|
|The costs associated with the event, and if they have changed or not with indication of the reasons.||Not applicable|
|Impact of the Delay 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.