Maharah Human Resources Co. — Capital/Financing Update 2021

Apr 12, 2021

Maharah Human Resources Co. Announces an update on Singing an MOU to acquire a majority stake in Spectra Support Services Company

1831 · 12/04/2021 08:03:23 · Announcement #62770 · View on Saudi Exchange

Maharah Human Resources Co. Announces an update on Singing an MOU to acquire a majority stake in Spectra Support Services Company

Element List	Explanation
Introduction	Reference is made to Maharah Human Resources Company Announcement on Tadawul Website regarding signing a non-binding Memorandum of Understanding to acquire a majority stake in Spectra Support Services Company. Maharah would like to announce the signature of the sale and purchase agreement (SPA) to acquire 90% of Spectra Support Services Company.
Previous Announcement	Singing an MOU to acquire a majority stake in Spectra Support Services Company
Date of Previous Announcement on Tadawul's Website	2020-12-13 Corresponding to 1442-04-28
Percentage of fulfilled achievement	The SPA was signed on April 11, 2021 and closing will be subject to execution of pre-conditions, for which, a period ending June 30th, 2021 was agreed
Event's Expected Completion Date	After all the pre-conditions are executed, including the approval of Maharah general assembly. Parties to the SPA agreed to allow a period starting from signing the SPA and ending June 30th, 2021 to execute all the pre-conditions. If the conditions are not executed by then, parties have the option either to allow more time ore to abandon the deal.
The costs associated with the event, and if they have changed or not with indication of the reasons.	Cost include advisory cost related to the legal and financial due diligences. No material changes have occurred to these costs

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