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    8130   SA000A0MR856

ALAHLI TAKAFUL COMPANY

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AlAhli Takaful Company announces an update on the latest developments on the signing of a Binding Merger Agreement with Arabian Shield Cooperative Insurance Company

10/27/2021 | 02:09am EST
AlAhli Takaful Company announces an update on the latest developments on the signing of a Binding Merger Agreement with Arabian Shield Cooperative Insurance Company

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Element List Explanation
Introduction Further to the announcement made by AlAhli Takaful Company ("ATC") published on Tadawul website dated 02/12/1442H corresponding to 12/07/2021G in connection with ATC signing a binding merger agreement to merge with Arabian Shield Cooperative Insurance Company ("Arabian Shield").

pursuant to which ATC and Arabian Shield have agreed to take the necessary steps to implement a merger between the two firms in accordance with the Companies Law and the Merger and Acquisition Regulations issued by the Capital Market Authority (the "Merger"), and whereby the announcement stipulated that the Merger is subject to a number of conditions and approvals including obtaining regulatory approvals from the Saudi Central Bank and the General Authority for Competition and other competent authorities,

ATC announces the issuance of the non-objection of the Saudi Central Bank on 20/03/1443H (corresponding to 26/10/2021G) on the Merger and a number of relevant matters, noting that the Merger remains subject to a number of conditions including obtaining the remaining regulatory approvals and the approvals of the firms' shareholders.

Previous Announcement AlAhli Takaful Company Announces its entry into a binding agreement to merge with Arabian Shield Cooperative Insurance Company
Date of Previous Announcement on Tadawul's Website 2021-07-12 Corresponding to 1442-12-02
Percentage of fulfilled achievement Not Applicable
Event's Expected Completion Date Not Applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not Applicable

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.

Disclaimer

Alahli Takaful Company SJSC published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 06:07:07 UTC.


ę Publicnow 2021
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Financials
Sales 2020 198 M 52,8 M 52,8 M
Net income 2020 8,02 M 2,14 M 2,14 M
Net cash 2020 33,7 M 8,99 M 8,99 M
P/E ratio 2020 72,5x
Yield 2020 -
Capitalization 632 M 168 M 168 M
EV / Sales 2019 1,86x
EV / Sales 2020 2,77x
Nbr of Employees -
Free-Float 70,0%
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Abdulrahman Saleh Al-Obrah Chief Executive Officer
Hani Fareed Damra Chief Financial Officer
Omar Mohammed Hashem Chairman
Mohammed Osman Head-Information Technology
Mohammed Hassan Aqeel Chief Operating Officer
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