Middle East Healthcare Company (Saudi German Hospital) Announcement About the latest developments regarding the signing of a memorandum of understanding to enter as an investor partner At Sobhi Abdel Jalil Batterjee Medical Hospital, located in Jeddah

17 October 2021
Introduction
Introduction

Referring to the company’s announcement on the Tadawul website on 06/15/1442H corresponding to 01/28/2021G regarding the signing of a non-binding memorandum of understanding with Sobhi Abdul Jalil Batterjee Medical Hospital located in Jeddah and entering as an investor partner in the hospital for a fee and the company’s announcement on 14/11/1442H corresponding to 24/06/2021G regarding the latest development for the same memorandum of understanding .

Middle East Healthcare Company (Saudi German Hospital) would like to inform its valued shareholders that, based on the latest understandings with the Al Sobh New Medical Company, which owns Sobhi Abdul Jalil Batterjee Medical Hospital (a related party), the two parties have agreed to extend the mentioned non-binding Memorandum of Understanding for a period of time. Additional starting at the end of the original period on (30/09/2021)It expires after (90) working days, in order to allow completion Examination of ignorance and other preparatory work necessary to implement the deal agreements and other final agreements
Previous Announcement

Middle East Healthcare Company (Saudi German Hospital) announces the signing of a non-binding memorandum of understanding to enter as an investor partner in Sobhi Abdul Jalil Batterjee Medical Hospital located in Jeddah.
 
Date of Previous Announcement on Tadawul's Website

2021-06-24 Corresponding to 1442-11-14
 
Percentage of fulfilled achievement

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Event's Expected Completion Date

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Reasons for Exceeding the Announced End Date

To permit the completion of due diligence checks and other preparatory work for the implementation of the deal agreements.
 
The costs associated with the event, and if they have changed or not with indication of the reasons.

N/A
 
Impact of the Delay on the Company's Financial Results

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Additional Information

Any material developments regarding this memorandum will be announced in due course.