Maharah Human Resources Co. — Capital/Financing Update 2021

Aug 5, 2021

Maharah Human Resources Co. (“Maharah”) announces an update on the previously announced signature of the Sale and Purchase Agreement to acquire 90% in Spectra Support Services Company (“Spectra”)

1831 · 05/08/2021 08:01:25 · Announcement #64378 · View on Saudi Exchange

Maharah Human Resources Co. (“Maharah”) announces an update on the previously announced signature of the Sale and Purchase Agreement to acquire 90% in Spectra Support Services Company (“Spectra”)

Element List	Explanation
Introduction	Reference to Maharah’s announcement on Tadawul website on 30-08-1442 H corresponding 12-04-2021 AD, regarding the signing of Sale and Purchase Agreement to acquire 90% of Spectra equity, and to the update announcement made on 20-11-1442H corresponding 30-06-2021 AD regarding the amendment to the agreement to extend the period allowed for conditions precedents.
Previous Announcement	Parties to the Sale and Purchase Agreement have agreed to extend the relevant term in the Agreement to allow more time to execute the conditions precedents, to end by 24-03-1443 H, corresponding to 30-10-2021 AD.
Date of Previous Announcement on Tadawul's Website	2021-06-30 Corresponding to 1442-11-20
Percentage of fulfilled achievement	100%
Event's Expected Completion Date	Not Applicable
Reasons for Exceeding the Announced End Date	Not Applicable
The costs associated with the event, and if they have changed or not with indication of the reasons.	Not Available
Impact of the Delay on the Company's Financial Results	Not Available
Additional Information	Maharah would like to announce the completion of the transaction and the transfer of 90% of Spectra shares to Maharah. Parties have also entered into a settlement agreement where selling parties have agreed to waive the full transaction considerations in exchange of Maharah agreement to capitalize, in Spectra paid-in capital, an equal amount from the debt owed by Spectra to Maharah.

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