Dallah Healthcare Signs Mou with KUN Investment to Buy, Sell Shares in International Medical Center

Dallah Healthcare Company (the “Company”) announced on Tuesday the signing of a non-binding memorandum of understanding (“MoU”) with KUN Investment Holding Company in connection with the sale and purchase of shares representing 18.98% of International Medical Center Company by way of a share swap.

It also added that the MoU between the Company and KUN Investment Holding Company is in connection with the swap of shares in International Medical Center Company held by KUN Investment Holding Company against the issuance of new shares in the Company by way of capital increase (the “Proposed Transaction”).

The final value of the Proposed Transaction will be determined after completing the final valuation.

The company said a statement on Tuesday on Tadawul that the MoU shall be effective from the date it is executed between the parties and shall remain effective until 30/09/2022G unless otherwise agreed by the parties in writing.

The Company has appointed AlJazira Capital Company (Aljazirah Capital) as its financial advisor in respect of the Proposed Transaction

This comes with reference to the Proposed Transaction that might involve related parties, in which case the details of this will be announced at a later stage.

The Proposed Transaction is subject to obtaining the regulatory approvals of the competent authorities and the approval of the Company’s Extraordinary General Assembly.

This announcement does not mean that the Proposed Transaction will be agreed between the parties.

Any developments regarding the Proposed Acquisition will be announced in due course.