Maharah Human Resources Co. — M&A Activity 2022

Jun 30, 2022

Maharah Human Resources Company (“Maharah”) announces the latest updates regarding the singing of a non-binding MOU between its 100% owned subsidiary - Growth Avenue Investment Company (“GAC") – and shareholders of Saudi Medical Systems Company (“SMS”) to acquire 40% of their shares in SMS.

1831 · 30/06/2022 08:22:20 · Announcement #69109 · View on Saudi Exchange

Maharah Human Resources Company (“Maharah”) announces the latest updates regarding the singing of a non-binding MOU between its 100% owned subsidiary - Growth Avenue Investment Company (“GAC") – and shareholders of Saudi Medical Systems Company (“SMS”) to acquire 40% of their shares in SMS.

Element List	Explanation
Introduction	Reference is made to Maharah's announcement on Tadawul website on 19 Rajab 1443 H, corresponding 22 March 2022 G, regarding the singing of a non-binding MOU between Maharah’s 100% owned subsidiary (Growth Avenue Investment Company (“GAC”)) and shareholders of Saudi Medical Systems Company (“SMS”) which is specialized in hospital catering, to acquire 40% of their shares in SMS, and reference to Maharah's announcement on Tadawul website on 21 Ramadan 1443H corresponding to 22 April 2022G, regarding the singing of a sales and purchase agreement (“SPA”) between GAC and the selling shareholders of SMS to acquire 40% of their shares in SMS, Maharah announces that GAC has received the General Authority of Competition’s non-objection to complete economic concentration between Growth Avenue Investment Company (“GAG") and Saudi Medical Systems Company (“SMS”). The non-objection was received on 30-11-1443H corresponding to 29-06-2022G.
Previous Announcement	Signing the sales and purchase agreement (“SPA”) with the selling shareholders SMS to acquire 40% of their shares in SMS.
Date of Previous Announcement on Tadawul's Website	2022-04-24 Corresponding to 1443-09-23
Percentage of fulfilled achievement	85% of the acquisition process
Event's Expected Completion Date	18 moharam 1444 H corresponding 15-08-2022 AD
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.	None
Impact of the Delay on the Company's Financial Results	None
Additional Information	Further developments will be announced.

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