AlAhli Takaful: Creditor Objection Period to Merger Deal with Arabian Shield Begins Sunday

AlAhli Takaful Company announced on Sunday the start of the creditors’ objection period to the merger deal of AlAhli Takaful Company with Arabian Shield Cooperative Insurance Company in accordance with the provisions of Article (193) of the Companies Law.

The Creditors’ objection period begins from 12.12.2021 and ends by the end of 11.01.2022. The merger decision will be effective after the expiry of this period, in the absence of any objection from the creditors of AlAhli Takaful Company to the merger deal.

Accordingly, any creditor of AlAhli Takaful has the right to object to the merger deal by sending a registered letter to the company’s headquarters located in the city of Jeddah, Al- Al Khalidiyah District, Prince Sultan Street. P.O Box 48510 Jeddah 21582.

With reference to the announcement by AlAhli Takaful Company on 12.12.2021 on Tadawul on the results of the Extraordinary General Assembly meeting of AlAhli Takaful Company, which included approval of the offer submitted by Arabian Shield Cooperative Insurance Company to merge AlAhli Takaful Company with Arabian Shield Cooperative Insurance Company in accordance with the provisions of Articles 190 to 193 of the Companies Law and the provisions of subparagraph (1) of Paragraph (a) of Article 49 of the Mergers and Acquisitions Regulations (“The Merger Deal”).