Ayyan Investment Company Announces the Signing of a Non-binding Memorandum of Understanding with Dallah Healthcare Company

Ayyan Investment Company Announces the Signing of a Non-binding Memorandum of Understanding with Dallah Healthcare Company

26 February 2024 08:14 AM

AYYAN

2140

0.98%

14.36

0.14

Element List

Explanation

Introduction

Ayyan Investment Company (“the Company”) announces the signing of a Non-binding Memorandum of Understanding (“the Memorandum”) with Dallah Healthcare Company to Sell the Company’s Shares in Al-Ahsa Medical Services Company, which owns Al-Ahsa Hospital in Al-Ahsa (amounting to 97.41%), and Al-Salam Medical Services Company, which owns Al-Salam Hospital in Al-Khobar. (amounting to 100%) by Exchanging Shares or as Agreed upon between the parties.

Memorandum Signing Date

2024-02-25 Corresponding to 1445-08-15

Counterparty

Dallah Healthcare Company

Memorandum Subject

The Memorandum of Understanding concluded between the Company and Dallah Healthcare Company relates to the process of exchanging shares owned by Ayyan Investment Company in both Al-Ahsa Medical Services Company and Al-Salam Medical Services Company, in exchange for issuing New Shares in Dallah Healthcare Company through increasing the capital of Dallah Healthcare Company, or according to the payment mechanism to be agreed upon by the parties (the proposed deal).

Memorandum Duration

The memorandum will take effect from the date it is signed by both parties and will remain in effect for a period of (180) days unless the parties agree otherwise in writing.