Dallah Healthcare Company (SASE:4004) signed of a non-binding memorandum agreement to acquire 97% stake in Al-Ahsa Medical Services Company and 100% stake in Al-Salam Medical Services Company from Ayyan Investment Company (SASE:2140) on February 25, 2024. This is subject to obtaining the regulatory approvals of the competent authorities and the approval of the Company's Extraordinary General Assembly. The Proposed transaction is subject to satisfactory completion of financial, tax and legal due diligence.

The memorandum shall be effective from the date it is executed between the parties and shall be valid for 180 days unless otherwise agreed by the parties in writing. The parties have agreed on an initial valuation. The final value of the proposed transaction will be determined after completing the necessary studies and the due diligence process.

AlJazira Capital Company acted as financial advisor to Dallah Healthcare Company. Alinma Investment Company acted as financial advisor to Ayyan Investment Company.