Maharah Human Resources Co. — Capital/Financing Update 2021

Sep 28, 2021

Maharah Human Resources Co. Announces the Execution of Memorandum of Understanding with Alshifa Al Arabia Medical Company Acquiring Signing a non-binding MOU to acquire 85% in Alshifa Al-Arabiya Medical Company

1831 · 28/09/2021 08:46:03 · Announcement #64984 · View on Saudi Exchange

Maharah Human Resources Co. Announces the Execution of Memorandum of Understanding with Alshifa Al Arabia Medical Company Acquiring Signing a non-binding MOU to acquire 85% in Alshifa Al-Arabiya Medical Company

Element List	Explanation
Introduction	Maharah Human Resources Co. announces that its subsidiary (Growth Avenue Investment Company) which is owned 100% by Maharah signing a Memorandum of Understanding with Alshifa Al Arabia Medical Company to acquire a 85% in Alshifa Al Arabia Medical Company, which is Specializing in the home health care services and medical centers operating.
Date of signing the Memorandum of Understanding	2021-09-27 Corresponding to 1443-02-20
Memorandum Duration	Six months
Name of the Counterparty	Alshifa Al Arabia Medical Company
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

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