Elm Co. — M&A Activity 2025

Apr 21, 2025

Elm Company announces the completion of procedures to acquire the entire shareholding of the Public Investment Fund in Thiqah Business Services Company

7203 · 21/04/2025 15:33:30 · Announcement #86609 · View on Saudi Exchange

Elm Company announces the completion of procedures to acquire the entire shareholding of the Public Investment Fund in Thiqah Business Services Company

Element List	Explanation
Introduction	Further to the announcement made by Elm Company (the "Company" or “Elm”) on the Saudi Stock Exchange (Tadawul) website on 22-07-1446H (corresponding to 22-01-2025G) in respect of the signing of a share purchase agreement on 21-07-1446H (corresponding to 21-01-2025G) (the "SPA") with the Public Investment Fund (the "PIF"), for the purpose of acquiring the entire shares held by the PIF in Thiqah Business Services Company ("Thiqah"), Elm Company is pleased to announce the completion of the regulatory process related to the Acquisition and the completion of the sale and purchase of the Shares.
Acquisition Procedures Conclusion Date	2025-04-21 Corresponding to 1446-10-23
Summary of Acquisition / Purchase	The procedures for Elm Company’s Acquisition of the entire shares held by the PIF in Thiqah have been completed following the satisfaction of the condition precedents stipulated in the SPA, and the Acquisition purchase price has been paid by Elm Company to the PIF as agreed in the SPA through Elm Company's own resources and facilities.
Related Parties	The PIF is a substantial shareholder in Elm Company.

The members of the Board of Directors, Mr. Raed Ismail and Mr. Abdullah Al-Salem, also have an indirect interest in the Acquisition, which have been authorized by the ordinary general assembly on 17-09-1446H (corresponding to 17-03-2025G). Financial Impact The financial impact on the company's financial statements will appear starting from the second quarter of the year 2025. Ownership and Legal Documents Transfer Conclusion Date 23-10-1446H (corresponding to 21-04-2025G).

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.