Salama Cooperative Insurance coverage Firm brand
Firm introduced Salama Cooperative Insurance coverageAt this time, it introduced the publication of the shareholders’ round to extend its capital for the aim of merging the corporate Saudi Enaya Cooperative Insurance coverage In Salama Firm.
In accordance with the round, the members of the Board of Administrators of Salama Firm imagine that the merger deal is within the curiosity of Salama Firm and its shareholders, after exercising the mandatory skilled diligence – with the help of their advisors – as they deem applicable beneath the circumstances, and after taking into consideration the market scenario on the date of publication of this round, the longer term progress alternatives of Salama Firm and Enaya Firm, and the anticipated advantages from the merger deal.
The corporate defined that this got here after taking the opinion submitted by the Monetary Enterprise Sustainability Firm (Estidama Monetary), the monetary advisor to Salama Firm, concerning the merger deal, which said that the swap issue agreed upon beneath the merger settlement is financially honest to Salama Firm and its shareholders as of the date of the opinion submitted and in accordance with the elements and assumptions described in that opinion.
The next desk reveals an important dates and upcoming important levels of the deal:
|
Crucial dates and upcoming milestones toFor a deal
|
|
|
Saying the affiliation’s invitation
|
December 11, 2025
|
|
Finish of the objection interval for Enaya’s collectors
|
December 18, 2025
|
|
Enaya Firm’s announcement of the presence or absence of objections to collectors
|
December 21, 2025
|
|
Date of the 2 assemblies
|
January 4, 2026
|
|
Suspension of buying and selling in Enaya shares
|
January 5, 2026
|
|
Delisting Enaya shares
|
Throughout a interval of a minimum of three and not more than six buying and selling durations after the date of issuance of the merger resolution.
|
|
Itemizing the compensation shares in Tadawul
And allocate it to the advantage of Enaya shareholders
|
Throughout a interval of a minimum of three and not more than six buying and selling durations after the date of issuance of the merger resolution.
|
|
Deadline for distributing proceeds from the sale of fractional shares offered
|
Inside 30 days from the date of approval of the merger deal.
|
In accordance with knowledge numbersIn February 2025, Enaya and Salama signed a non-binding memorandum of understanding to judge the feasibility of merging the 2 corporations. Final June, the Common Authority for Competitors issued a choice of no objection to finishing the financial focus course of ensuing from the merger deal between the 2 corporations..
Then, final August, the 2 corporations concluded a binding merger settlement, beneath which Enaya Firm can be merged into Salama Firm and all its rights, obligations, belongings and contracts can be transferred to Salama Firm, in alternate for Salama Firm issuing 18.89 million unusual shares for the advantage of Enaya Firm shareholders..
The Insurance coverage Authority’s approval of the merger deal and quite a few associated points was issued on November 16, 2025, whereas the Capital Market Authority’s approval of the deal was issued on December 1, 2025..
|
Particulars of the merger course of
|
|
|
Integration technique
|
Merging Enaya Firm into Salama Firm and transferring all its rights, obligations, belongings and contracts to Salama Firm in alternate for the institution of Salama Firm
|
|
Acquisition worth
|
Salama will problem 18.89 million unusual shares with a nominal worth of 10 riyals per share in Salama Firm for the advantage of Enaya shareholders.
|
|
The nominal worth of the inventory
|
10 riyals
|
|
Swap issue
|
Issuing 0.821 shares in Salama Firm
|
|
Analysis of Salama’s share value for the deal
|
12.40 riyals
|
|
Evaluating Enaya’s share value for the deal
|
10.19 riyals
|
|
Capital of the brand new entity
|
488.94 million riyals
|
|
Variety of shares of the brand new entity
|
48.89 million shares
|
|
Possession of Salama shareholders upon completion of the transaction
|
61.36 %
|
|
Possession of Enaya shareholders after completion of the transaction
|
38.64 %
|
To view the shareholders’ round concerning the rise in Salama’s capital to merge with Enaya
