ARABIAN SHIELD COOPERATIVE INSURANCE COMPANY 1443/03/21 Wed Oct 27, 2021 08:06:41
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| Element List | Explanation |
| Introduction |
Further to the announcement made by Arabian Shield Company published on Tadawul website dated 04/12/1442 (h) corresponding to 14/07/2021 (g) in connection with Arabian Shield Company signing a binding merger agreement to merge with Alahli Takaful Company.
pursuant to which Arabian Shield and Alahli Takaful 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, Arabian shield announces the issuance of the non-objection of the Saudi Central Bank on 20/03/1443 (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 | Arabian Shield Cooperative Insurance Co. announcement regarding entry into a binding agreement to merge with Alahli Takaful Company ("ATC") and its firm intention to make a share SWAP offer to transfer all assets and liabilities in ATC to Arabian Shield Cooperative Insurance Company |
| Date of Previous Announcement on Tadawul's Website | 2021-07-14 Corresponding to 1442-12-04 |
| 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.
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Arabian Shield Cooperative Insurance 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 07:27:05 UTC.
