Al-Ahlia issues board circular for proposed merger with Gulf Union

With reference to the Capital Market Authority's approval of Gulf Union Cooperative Insurance Co.’s request to increase its capital to merge Al-Ahlia Insurance Co. into Gulf Union through a share swap on Aug. 31), Al-Ahlia issued its board circular, which contains the views of Al-Ahlia board about Gulf Union’s offer.

It also includes the independent advice provided by Aljazira Capital, the financial advisor to Al-Ahlia in the merger.

Al-Ahlia’s board confirms the importance of reading the Offer Document and the Board Circular carefully before making any decision regarding the merger.

Copies of the Board Circular can be obtained from Alawwal bank's website at www.alahlia.com.sa or Tadawul website at www.tadawul.com.sa. Copies of the Offer document can be obtained from Gulf Union’s website (www.gulfunion.com.sa) or CMA website (www.cma.com.sa) or Tadawul website (www.tadawul.com.sa).

Al-Ahlia will make certain documents relating to the merger available for inspection starting from today, Sept. 3 at its headquarters during the normal business hours until the expiry of the offer period (as defined in the board circular).