Maharah Human Resources Co. — M&A Activity 2022

Aug 28, 2022

Maharah Human Resources Company (“Maharah”) announces the latest updates on signing a non-binding MOU between its 100% owned subsidiary - Growth Avenue Investment Company (“buyer”) - and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company Ltd. (Kingdom Hospital & the Consulting Clinics)

1831 · 28/08/2022 08:14:57 · Announcement #69934 · View on Saudi Exchange

Maharah Human Resources Company (“Maharah”) announces the latest updates on signing a non-binding MOU between its 100% owned subsidiary - Growth Avenue Investment Company (“buyer”) - and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company Ltd. (Kingdom Hospital & the Consulting Clinics)

Element List

Explanation

Introduction

Reference is made to Maharah announcement on Tadawul website on 04 Muharram 1444 H, corresponding 08 August 2022, regarding the singing of a non-binding MOU between Maharah’s 100% owned subsidiary (Growth Avenue Investment Company (“GAC” or “buyer”) and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity (41.36%) in Care Shield Holding Company (Kingdom Hospital & the Consulting Clinics).

Maharah would like to announce that on 27 Muharram 1444H corresponding to 25 August 2022, GAC received a certificate of "no obligation to report" from the General Authority of Competition with regards to the acquisition transaction. Therefore, parties to the transaction can proceed with completion of the transaction. Previous Announcement Signing a Sales and Purchasing agreement between GAC and both El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company Ltd. (Kingdom Hospital & the Consulting Clinics) Date of Previous Announcement on Tadawul's Website 2022-08-02 Corresponding to 1444-01-04 Percentage of fulfilled achievement 90% of the acquisition transaction Event's Expected Completion Date NA Reasons for Exceeding the Announced End Date NA The costs associated with the event, and if they have changed or not with indication of the reasons. NA Impact of the Delay on the Company's Financial Results NA Additional Information Buyer and Sellers will proceed with the completion of the acquisition process after satisfying all conditions precedent to closing. Further updates on closure and transfer of shares will be announced accordingly.

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.