| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement made by the Saudi Tadawul Group Holding Co. (the "Group") on the (Saudi Exchange) dated December 15th, 2024 (corresponding to Jumada Al Thani 14th, 1446 AH) regarding its subsidiary, Tadawul Advanced Solutions Company ("WAMID") acquisition of 49% stake of the remaining shares in Direct Financial Network Company (DirectFN Limited), which was owned by National Two Ventures (Sole Shareholder LLC). The Group is pleased to announce the completion of the regulatory requirements of the transaction on February 2nd, 2025 (corresponding to Shaban 3rd, 1446 AH). Thus, WAMID is now the sole owner of all shares in Direct Financial Network Company (DirectFN Limited). |
| Previous Announcement | Saudi Tadawul Group Holding Co. Announces the latest development regarding the acquisition of its subsidiary, Tadawul Advanced Solutions Company (“WAMID”) of 49% of the entire remaining shares in Direct Financial Network Company (DirectFN Limited) for a value of SAR 220,500,000. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-12-15 Corresponding to 1446-06-14 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Completion of the regulatory requirements, and completion of WAMID’s acquisition of 49% stake of the remaining shares in Direct Financial Network Company (DirectFN Limited). Thus, WAMID’s stake in Direct Financial Network Company (DirectFN Limited) have increased from 51% to 100%. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not Applicable. |