Etihad GO Telecom Co. — M&A Activity 2024

Sep 22, 2024

Correction announcement from Etihad Atheeb Telecommunication Co. (GO) in regards to that it has signed a binding memorandum of understanding to acquire a 51% share of the capital in EJAD TECH company.

7040 · 22/09/2024 08:09:37 · Announcement #82629 · View on Saudi Exchange

Correction announcement from Etihad Atheeb Telecommunication Co. (GO) in regards to that it has signed a binding memorandum of understanding to acquire a 51% share of the capital in EJAD TECH company.

Element List	Explanation
Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website	2024-01-16 Corresponding to 1445-07-04
Hyperlink to the Previous Announcement	Click Here
Incorrect statements in the previous announcement	Approvals

This acquisition deal is expected to be completed in the fourth quarter of 2024 (representing the third fiscal quarter of Etihad Atheeb Company), and the completion of the acquisition deal is subject to a number of conditions, including:

1. Obtaining the approval of the Extraordinary General Assembly of Etihad Atheeb Company in accordance with what is stated in the Companies Law and the rules for offering securities and continuing obligations.

2. Obtaining a no-objection to the acquisition deal from the General Authority for Competition.

3. Obtaining any other necessary or appropriate approvals regarding the acquisition transaction. Correct Statement Approvals

This acquisition deal is expected to be completed in the fourth quarter of 2024 (representing the third fiscal quarter of Etihad Atheeb Company), and the completion of the acquisition deal is subject to a number of conditions, including:

1. Obtaining the approval of the Ordinary General Assembly of Etihad Atheeb Company in accordance with what is stated in the Company’s Bylaws.

2. Obtaining a no-objection to the acquisition deal from the General Authority for Competition.

3. Obtaining any other necessary or appropriate approvals regarding the acquisition transaction.

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.