The Previously Announced Event:
Osool and Bakheet Investment Co. Announces the Purchasing of Shares of Advanced Operations Technology Company in the amount of Total value of (5,100,000) Five million, one hundred thousand Saudi Riyals
Date of the Previous Announcement on the Saudi Exchange (Tadawul) Website:
22/07/2024 Corresponding to 16/01/1446
Link to the Previous Announcement on the Saudi Exchange (Tadawul) Website:
Introduction:
On 21/07/2024, Osool & Bakheet Investment Company signed a purchase agreement to acquire 51% of the total shares of Advanced Operations Technology Company for a total value of SAR 5,100,000 (five million one hundred thousand Saudi Riyals). Mr. Abdulrahman Yahya Abdullah Al-Yahya and Ms. Samia Yahya Abdullah Al-Yahya were granted preferential terms (special conditions) in consideration for selling all their owned shares in Advanced Operations Technology Company to Osool & Bakheet Investment Company to enable it to own 51% of the acquired company.
Latest Developments on the Announced Event:
On 25/08/2025, a waiver agreement was signed by Ms. Samia Yahya Abdullah Al-Yahya and Mr. Abdulrahman Yahya Abdullah Al-Yahya to relinquish all preferential terms (special conditions) granted to them under the Share Purchase Agreement.
Details of the waived preferential terms (special conditions):
- Subscription Right granted by Osool & Bakheet (the buyer) to the sellers:
- Samia Yahya Abdullah Al-Yahya waived her right to subscribe up to a maximum amount of SAR 2,000,000 (two million Saudi Riyals) in the acquired company in the event of its offering/listing on the financial market.
- Abdulrahman Yahya Abdullah Al-Yahya waived his right to subscribe up to a maximum amount of SAR 3,334,000 (three million three hundred thirty-four thousand Saudi Riyals) in the acquired company in the event of its offering/listing on the financial market.
2- Right to participate in the subscription with a discount on the offering price granted by Osool & Bakheet (the buyer) and the other sellers to the sellers:
• Ms. Samia Yahya Abdullah Al-Yahya waived her right to participate in the subscription in the acquired company with a 20% discount on the offering price.
• Mr. Abdulrahman Yahya Abdullah Al-Yahya waived his right to participate in the subscription in the acquired company with a 20% discount on the offering price.
The duration of the preferential terms (special conditions) granted, which have now been waived, was ten (10) years from the date of signing the Share Purchase Agreement.
Additional Information:
The waiver will have a positive future impact as it exempts the company from the obligation to implement the waived preferential terms (special conditions).
