Riyadh – Mubasher: Al Ahsa Development Company has extended a Memorandum of Understanding (MoU) to fully acquire Al Salam Medical Services Company.
The MoU has been extended for 93 additional days until 28 February 2020 in order to finalize the required documents, said a bourse filing on Thursday.
The takeover will be carried out through issuing new shares at an agreed price of SAR 10.11 per share.
Newly-issued shares amount to 24.73 million, with total shares after acquisition equalling 73.73 million shares.
Accordingly, shareholders’ stakes will increase to 33.54%.
