DALLAH HEALTHCARE COMPANY 1443/03/22 Thu Oct 28, 2021 09:43:03
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| Element List | Explanation |
| Introduction | As part of company plan to acquire more than 25% of International Medical Center Co. stakes, Dallah Healthcare Co. announces the signing of 8.2% buying agreement of International Medical Centre Co. shares of SR 289 million value. |
| Transaction Details | Dallah Healthcare Co. signed an agreement to buy 8.2% of International Medical center in Jeddah |
| Transaction Value | SR 289 million (representing 8.2%) |
| Transaction Terms | Guarantees and endorsements from sellers |
| Parties of the Transaction |
-Mr. Abdulaziz Mohammed Al Meshaal
-Mrs. Abeer Mohammed Al Meashaal |
| Transaction Funding Method | Bank Murabaha facilitates |
| Transaction Execution Date | 2021-10-27 Corresponding to 1443-03-21 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | A hospital and clinics with many specialities with a capacity of 300 beds serving the eastern region and targeting distinctive service rendering. The hospital has a renowned reputation in rendering high quality services. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | International Medical center Company reached total revenues of SR 1.2 billion annually for the last 3 years. |
| Transaction reasons | This deal comes as part of the company's strategy that includes existence in Jeddah in support of its share in the distinctive healthcare services' market |
| Expected Impact of the Transaction on the Company and Its Operations | This deal has appositive financial effect on Dallah Healthcare's profitability through its share of profit of the targeted company and its dividends |
| Related Parties | No related parties in this purchase agreement |
| Additional Information | This deal is subject to many elements, including but not limited to, approval of the related governmental bodies. Dallah Healthcare will announce any material development relating to this matter. |
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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Dallah Healthcare Company SJSC published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 21:57:03 UTC.
