Jahez International Company for Information System Technology Announces an update on Jahez International Company for Information System Technology (Jahez) announces the Signing of a Share Purchase and Subscription Agreement for the Acquisition of a 76.56% Stake in Snoonu Corporation Holding LLC.
| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement made by Jahez International Company for Information System Technology (“Jahez”) on the Saudi Stock Exchange (Tadawul) website on 14/01/1447H (corresponding to 09/07/2025G) regarding the signing of a share purchase and subscription agreement for the acquisition of an overall 76.56% stake in Snoonu Corporation Holding LLC (“Snoonu”) (the “Transaction”), Jahez announces the latest development regarding the Transaction. |
| Previous Announcement | Jahez International Company for Information System Technology (Jahez) announces the Signing of a Share Purchase and Subscription Agreement for the Acquisition of a 76.56% Stake in Snoonu Corporation Holding LLC. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-07-09 Corresponding to 1447-01-14 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The parties to the Transaction agreed to adjust the provisions relating to the number of shares acquired as part of the Transaction to reflect the number of issued shares in Snoonu, without any change to the acquired ownership percentage in Snoonu’s share capital or the total Transaction consideration, as follows:
(a) the purchase of 7,901,303 shares, representing 75% of Snoonu’s share capital; and (b) the subscription to 702,338 shares representing 1.56% of Snoonu’s share capital. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable. |
Comments