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
| Element List | Explanation |
|---|---|
| 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 Co. (“Amana”), and with reference to the merger conditions and regulatory approvals section in the Announcement which state that it is mandatory to obtain the approval or non-objection from the Saudi Central Bank (“SAMA”) to complete the Merger. Enaya announces the issuance of the Approval of the Saudi Central Bank on 18/04/1443 (corresponding to 23/11/2021G) on the potential Merger. Noting that the Merger remains subject to a number of conditions including obtaining the remaining regulatory approvals and the approvals of the companies’ shareholders. |
| 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 |
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