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Maharah Human Resources Co. Announces the Execution of Memorandum of Understanding with Alshifa Al Arabia Medical Company Acquiring Signing a non-binding MOU to acquire 85% in Alshifa Al-Arabiya Medical Company

Element ListExplanation
Introduction Maharah Human Resources Co. announces that its subsidiary (Growth Avenue Investment Company) which is owned 100% by Maharah signing a Memorandum of Understanding with Alshifa Al Arabia Medical Company to acquire a 85% in Alshifa Al Arabia Medical Company, which is Specializing in the home health care services and medical centers operating.
Date of signing the Memorandum of Understanding 2021-09-27 Corresponding to 1443-02-20
Memorandum Duration Six months
Name of the Counterparty Alshifa Al Arabia Medical Company
Name of Financial Advisor of Each Party Not applicable
Major Terms in the Memorandum Completion of Financial and Legal Due Diligence and obtaining required approvals
Related Parties There are no related parties in this agreement
Actions to be Taken by the Company during the Memorandum’s Duration Conducting a full Due Diligence, valuation, final negotiations, signing a Share Purchase Agreement (SPA) and applying to for approvals from relevant bodies
Approvals Any Binding agreement is subject to Board of Directors (BOD) approval, and other relevant approvals
Additional Information Further announcement will follow once there are essential developments related to the acquisition

The Capital Market Authority and the Saudi Stock 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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