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Saudi Tadawul Group Holding Co. Announces the latest development regarding the acquisition of its subsidiary, Tadawul Advanced Solutions Company (“WAMID”) of 51% shares in Direct Financial Network Company (DirectFN Limited), by announcing the acquisition of 49% of the entire remaining shares in Direct Financial Network Company (DirectFN Limited) for a value of SAR 220,500,000

1446/06/14 15/12/2024 08:26:41

Element ListExplanation
Introduction In reference to the announcement made by the Saudi Tadawul Group Holding Co. (the "Group") on the (Saudi Exchange) dated May 8th, 2023 (corresponding to Shawwal 18th, 1444 AH) regarding the completion by its subsidiary, Tadawul Advanced Solutions Company ("WAMID") the acquisition of 51% of the issued shares of Direct Financial Network Company (DirectFN Limited).

The “Group” is pleased to announce WAMID’s acquisition of 49% stake of the remaining shares in Direct Financial Network Company (DirectFN Limited), which was owned by National Two Ventures (Sole Shareholder LLC). Thus, WAMID is now the sole owner of all shares in Direct Financial Network Company (DirectFN Limited).
Previous Announcement Saudi Tadawul Group Holding Co. Announces an update on the Group's announcement regarding the signing of its subsidiary, Tadawul Advanced Solutions Company ("WAMID") a sale and purchase agreement with National Two Ventures (Sole Shareholder LLC) to acquire 51% shares in Direct Financial Network Company (DirectFN Limited) in the value of SAR 133,951,500.
Date of Previous Announcement on Saudi Exchange’s Website 2023-05-08 Corresponding to 1444-10-18
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event WAMID’s acquisition of 49% stake of the remaining shares in Direct Financial Network Company (DirectFN Limited). Thus, WAMID’s stake in Direct Financial Network Company (DirectFN Limited) have increased from 51% to 100%.

The Transaction is an integral part of WAMID's growth strategy, supporting the Group’s ambitious strategy.

The acquisition of 100% of the entire shares of the issued capital of Direct Financial Network Company (DirectFN Limited) will create an opportunity to build new capabilities, elevate innovation in the regional capital markets, diversify revenues, and advance the capital market.
The costs associated with the event, and if they have changed or not with indication of the reasons. The acquisition value is SAR 220.5 million, representing the acquisition value of 49% of the entire remaining shares in Direct Financial Network Company (DirectFN Limited).

The acquisition value will be funded by the existing Saudi Tadawul Group Holding Co. Islamic Sharia-compliant banking facilities, which was announced on the (Saudi Exchange) dated February 1st, 2024 (corresponding to Rajab 20th, 1445 AH).
Additional Information The transaction is expected to have a positive financial impact on the Group over time.

This transaction is subject to the completion of the regulatory requirements.

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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