Samba Financial Group Announces the Commencement of the Creditor Objection Period in Relation to the Merger Between Samba Financial Group and National Commercial Bank.
| Element List | Explanation |
|---|---|
| Announcement Detail | Further to Samba Financial Group’s announcement made earlier today (17/07/1442H (corresponding to 01/03/2021G)) through Tadawul in relation to the results of its extraordinary general assembly meeting which included the acceptance of the offer made by the National Commercial Bank in connection with the proposed merger of Samba Financial Group and the National Commercial Bank pursuant to Articles 191 to 193 of the Companies Law and Article 49 (a) (1) of the Merger and Acquisition Regulations (the "Merger"), Samba Financial Group announces the commencement of the creditor objection period in relation to the Merger pursuant to Article (193) of the Companies Law.
Therefore, any creditor of Samba Financial Group will be entitled to object to the Merger by submitting a registered letter to Samba Financial Group at the following address: 6965 King Abdul Aziz Road, AlMalaz District, Unit No. 1, Riyadh 12629 – 3046, Kingdom of Saudi Arabia as well as sending a copy of such letter to the legal advisor of Samba Financial Group (Khoshaim & Associates) at the following email address: ( Samba.Merger@khoshaim.com ). The creditor objection period commences today 17/07/1442H (corresponding to 01/03/2021G) and shall expire at the end of the day on 18/08/1442H (corresponding to 31/03/2021G). Pursuant to the Companies Law, the Merger will take effect upon the expiry of the creditor objection period (assuming there are no unresolved creditor objections from Samba Financial Group’s creditors). |
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