Maharah Human Resources Co. — M&A Activity 2022

Jul 18, 2022

Maharah Human Resources Co. (“Maharah”) announces the latest update of signing the 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 (Kingdom Hospital & the Consulting Clinics).

1831 · 18/07/2022 08:09:26 · Announcement #69254 · View on Saudi Exchange

Maharah Human Resources Co. (“Maharah”) announces the latest update of signing the 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 (Kingdom Hospital & the Consulting Clinics).

Element List	Explanation
Introduction	Reference is made to Maharah announcement published on Tadawul website on 10 Shaban 1443 corresponding to 13 March 2022 in which Maharah announced that its 100% subsidiary (Growth Avenue Investment Company) signed a non-binding MOU with (1) El Seif Commercial Investment Company Limited and (2) Saudi Medicare Company Limited to acquire their full equity of 41.37% in Care Shield Holding Company (Kingdom Hospital & Consulting Clinics), Maharah would like to announce that all parties agreed to extend the MOU until 3 Muharram 1444 corresponding to 01 August 2022 with the same terms and conditions.
Previous Announcement	Maharah announcement of the 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 of 41.37% in Care Shield Holding Company (Kingdom Hospital & the Consulting Clinics)
Date of Previous Announcement on Tadawul's Website	2022-03-13 Corresponding to 1443-08-10
Percentage of fulfilled achievement	NA
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	Further announcements will follow upon any important development with regards to the subject of the MOU.

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