UCA News

1 Oct 2023
20 Sep 2023
21 Aug 2023
3 Jul 2023

With reference to the announcement of United Cooperative Assurance Company (the “Company” or “UCA” or “Merging Entity”) on Tadawul’s website on 12/05/1444H (corresponding to 06/12/2022G) regarding the signing of a non-binding Memorandum of Understanding with Saudi Enaya Cooperative Insurance Company (“Enaya”), in order to evaluate a potential merger between the two companies, the Company announces that it has signed a binding merger agreement with Enaya on 11/11/1444H (corresponding to 31/05/2023G) (the “Merger Agreement”) reflecting the agreement of both companies to merge through a share swap transaction, whereby UCA shall issue 0.8373985652173910 ordinary shares in UCA against each issued share in Enaya (“Exchange Ratio”), to the benefit of the entitled shareholders in Enaya (i.e., shareholders owning the shares issued in Enaya on the effective date of the Merger Transaction) as consideration for the transfer of assets and liabilities of Enaya to UCA and without any cash consideration being paid (“Merger Transaction” or “Transaction” or “Merger”), all in accordance with applicable laws, notably the Companies Law issued by the Ministry of Commerce, the regulations of the Capital Market Authority (“CMA”), including the Mergers and Acquisitions Regulations, the Rules on the Offer of Securities and Continuing Obligations, the Listing Rules, as well as the relevant regulations of the Saudi Central Bank.
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3 Jul 2023
11 Jun 2023

The Board of Directors of the United Cooperative Assurance Company is pleased to invite its shareholders to attend the Ordinary General Assembly meeting (the first meeting), which will be held at 7:30 PM Sunday 14 Dhu Alhija 1444 H corresponding to 02 July 2023 by means of modern technology.

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29 Mar 2023
8 Mar 2023
29 Jan 2023
26 Nov 2022