Elm Completes Acquisition of PIF’s Full Share in Thiqa

Elm announced the completion of the acquisition of the Public Investment Fund’s full share in Thiqa Business Services Company, after fulfilling the preconditions stipulated in the agreement.

The company explained that it paid the cash amount agreed upon under the agreement through Elm’s own financing resources and financial facilities.

Elm expects the financial impact to be reflected in its financial statements starting from the second quarter of 2025.

Related Parties:

The Public Investment Fund, as a major shareholder in Elm.

Board members Raed Ismail and Abdullah Al-Salem also have an indirect interest in the acquisition, which was approved by the Ordinary General Assembly on March 17, 2025. This comes in reference to Elm Company’s announcement on the Saudi Stock Exchange (Tadawul) website on 01-22-2025 AD, that it had concluded a share sale and purchase agreement with the Public Investment Fund, for the purpose of Elm Company acquiring the Fund’s entire stake in Thiqa Business Services Company.