CMA OKs distribution of Care2 Fund ownership in ProMedEx to unitholders

07/10/2024 Argaam
Logo ofProfessional Medical Expertise Co. (ProMedEx)

Logo of Professional Medical Expertise Co. (ProMedEx)

Professional Medical Expertise Co. (ProMedEx) received a letter from Alkhair Capital, the manager of Care2 Fund, informing that the Capital Market Authority (CMA) approved the fund manager's request to distribute the fund’s ownership in ProMedEx.
 

This distribution will be executed through the custodian company, The Second Health Care Trading (a sole proprietorship), for 700,000 shares, which represent 20% of ProMedEx's total shares.

 

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These shares are set to be deposited into the investment portfolios of the fund's unitholders.

 

In a statement to Tadawul, the company said that once this procedure is completed, it will lead to a change in the list of ProMedEx major shareholders.

 

The company also confirmed that there are no costs associated with this transfer.

 

According to data available with Argaam, ProMedEx received a letter from Alkhair Capital in August 2024, stating that Care2 Fund plans to transfer its stake in ProMedEx to the investment portfolios of its unitholders, through the custodian company.

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