“Dallah Health” acquires the shares of “Kun Investment” in the “International Medical Center”
Dallah Health Services Company “Dallah Health” announced that it has completed the procedures for acquiring shares in the International Medical Center Company.
The company said in a statement on “Tadawul Saudi Arabia”, today, Monday, that the procedures for acquiring the entire shares of “Kun Investment Holding Company” in the capital of the “International Medical Center” company, amounting to 14.23 million ordinary shares (representing a rate of 18.98%), have been completed. In return for issuing new shares in Dallah Company to the selling shareholder of the International Medical Center Company.
The capital of Dallah Company was increased from 900 million riyals to 976.81 million riyals by issuing 7.68 million new ordinary shares, thus increasing the number of its shares from 90 million shares to 97.68 million shares, an increase of about 8.53% of the capital of Dallah Company before the issuance of new shares. “, according to the statement.
She added that the ownership percentage of Dallah Company in the capital of the International Medical Center Company amounts to 27.18% after the completion of the procedures for acquiring shares in the Medical Center Company.
And she indicated that the financial impact of this acquisition will appear on the financial results, starting from the first quarter of the fiscal year 2023.
It stated that the acquisition deal involves the presence of related parties, namely: Dallah Al-Baraka Holding Company (the major shareholder in Dallah Company).
– Abdullah bin Saleh Kamel for being: (a) Chairman of the Board of Directors of Dallah Al Baraka Holding Company and a major shareholder (directly and indirectly) in it, and (b) owning all the shares in the selling shareholder of the International Medical Center Company.
– Muhyiddin Bin Saleh Kamel for being the Vice Chairman of the Board of Directors of Dallah Company and the brother of Abdullah Bin Saleh Kamel.
– Muhammad Nabil Hefny for being: (a) a member of the Board of Directors of Dallah Company, and (b) the CEO of the shareholder of the International Medical Center Company, the seller (c) and a member of the Board of Directors of the International Medical Center Company.
It is worth noting that Mohamed Nabil Hefny has resigned from the Board of Directors of the International Medical Center Company, as part of the requirements for completing the acquisition deal.
