Al Hammadi Holding — M&A Activity 2018

Jun 24, 2018

Addendum Announcement by Al Hammadi Company of Discontinuing the Preliminary Discussions with care in Relation to the Consideration of the Potential Merger of the Companies

4007 · 24/06/2018 15:17:06 · Announcement #51281 · View on Saudi Exchange

Addendum Announcement by Al Hammadi Company of Discontinuing the Preliminary Discussions with care in Relation to the Consideration of the Potential Merger of the Companies

With reference to the announcement made by Al Hammadi Company for Development and Investment on Tadawul website on 02/08/2018G with respect to its entry into preliminary discussions with the National Medical Care Company in relation to the consideration of the potential merger of the two companies, the Company announces that it has decided to discontinue and cease such discussions in light of the potential change in the ownership structure of the National Medical Care Company based on the announcement made by the National Medical Care Company on Tadawul website on 10/06/2018G in which it indicated that on 07/06/2018G, it received a letter from Hassana Investment Company, a subsidiary of the General Organization for Social Insurance (GOSI), responsible for the management of GOSI investments, stating that it, on its behalf and on behalf of GOSI, reached a non-binding agreement with NMC Health PLC to enter into a private sale transaction. This transaction has Hassana Investment Company and GOSI swapping their ownership in the National Medical Care Company, in return for shares in NMC Saudi Arabia Healthcare, a company owned by NMC Health PLC.

Therefore, Al Hammadi Company for Development and Investment is of the view that realizing the objectives of the potential merger between the companies would be incompatible with the objectives of the private sale transaction mentioned above and announced by the parties involved. Therefore, the Company has decided to discontinue the discussions of the potential merger between the two companies as of the date of this announcement.

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.