With reference to the announcement made by Gulf Union Al Ahlia Cooperative Insurance Co. (\u201cGUAI\u201d or the \u201cMerging Company\u201d) on the Saudi Exchange website on 09\/06\/1446H (corresponding to 10\/12\/2024G) in relation to its entry into a binding merger agreement with Gulf General Cooperative Insurance Co. (\u201cGGI\u201d or the \u201cMerged Company\u201d) pursuant to which GGI will be merged into GUAI which will result in all rights, liabilities, assets and contracts of GGI being subsumed into GUAI in exchange for GUAI\u2019s issuance of 22,823,227 newly issued shares with nominal value of SAR 10 each in GUAI to GGI\u2019s shareholders pursuant to Article (225) and Articles (227) to (229) of the Companies Law, Article (49)(a)(1) of the Merger and Acquisition Regulations and in accordance with the Rules on the Offer of Securities and Continuing Obligations issued by the board of the Capital Market Authority (the \u201cCMA\u201d), and in accordance with the conditions and provisions of the Merger Agreement (the \u201cMerger\u201d) and GUAI\u2019s firm intention in making an offer in this respect (the \u201cFIA\u201d), and with reference the subsequent development announcement on 13\/08\/1446H (corresponding to 12\/02\/2025G) in relation to the issuance of the approval of the Insurance Authority on the Merger and on certain related items.<\/p>\n","protected":false},"excerpt":{"rendered":"
GUAI is pleased to announce the CMA\u2019s approval, issued on 25\/08\/1446H (corresponding to 24\/02\/2025G), on GUAI\u2019s capital increase application and the approval of the publication of the offer timetable and the offer document to GGI\u2019s shareholders.<\/p>\n","protected":false},"featured_media":986,"parent":0,"template":"","meta":{"_acf_changed":false},"class_list":["post-987","announcement","type-announcement","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/alnaqool.com\/en\/wp-json\/wp\/v2\/announcement\/987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alnaqool.com\/en\/wp-json\/wp\/v2\/announcement"}],"about":[{"href":"https:\/\/alnaqool.com\/en\/wp-json\/wp\/v2\/types\/announcement"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alnaqool.com\/en\/wp-json\/wp\/v2\/media\/986"}],"wp:attachment":[{"href":"https:\/\/alnaqool.com\/en\/wp-json\/wp\/v2\/media?parent=987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}