Maharah Human Resources Co. — Capital/Financing Update 2021

Nov 30, 2021

Maharah Human Resources Co. announces that its subsidiary (Growth Avenue Investment Company) which is owned 100% by Maharah is signing a Memorandum of Understanding with Salis For Trading and Marketing Company (soror.app)

1831 · 30/11/2021 08:06:12 · Announcement #65790 · View on Saudi Exchange

Maharah Human Resources Co. announces that its subsidiary (Growth Avenue Investment Company) which is owned 100% by Maharah is signing a Memorandum of Understanding with Salis For Trading and Marketing Company (soror.app)

Element List	Explanation
Introduction	Maharah Human Resources Co. announces that its subsidiary (Growth Avenue Investment Company) which is owned 100% by Maharah is signing a Memorandum of Understanding to aquire a 40% stake in Salis For Trading and Marketing Company (soror.app) which is an on-demand home services application specialized in the household, personal, automotaive and other variety of home services.
Date of signing the Memorandum of Understanding	2021-11-29 Corresponding to 1443-04-24
Memorandum Duration	Three Months
Name of the Counterparty	Salis For Trading and Marketing Company (soror.app)
Name of Financial Advisor of Each Party	Not applicable
Major Terms in the Memorandum	Completion of Financial and Legal Due Diligence and obtaining required approvals
Related Parties	There are no related parties in this agreement
Actions to be Taken by the Company during the Memorandum’s Duration	Conducting a full Due Diligence, valuation, final negotiations, signing a Share Purchase Agreement (SPA) and applying to for approvals from relevant bodies
Approvals	Any binding agreement is subject to Board of Directors (BOD) approval, and other relevant approvals
Additional Information	Further announcement will follow once there are essential developments related to the acquisition.

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.