| Element List | Explanation |
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| Announcement Detail | Bupa Arabia for Cooperative Insurance Co. announces the issuance of it board’s recommendation, dated 21/07/1447H (corresponding to 10/01/2026G), to the shareholders to restructure the company by demerging it into two entities by transferring all assets and liabilities related to the insurance business to a new, wholly owned closed joint stock company established as a result of the demerger (the process referred to herein as the “Demerger”), in accordance with Article (231) of the Companies Law. |
The suggested Demerger includes distributing the assets and liabilities of the company related to the insurance business—including insurance contracts with clients and the employment contracts of employees in specific departments—to the company resulting from the Demerger, in accordance with the details that will be provided in the shareholders circular that is to be published in due course.
The company had announced on 18/03/1447H (corresponding to 10/09/2025G that it received on 17/03/1447H (corresponding to 09/09/2025G), a non-objection letter from the Insurance Authority regarding the company's restructuring and conversion of its legal entity to a holding company, with the holding company continuing to be listed. The recommendation of restructuring comes in the context of the Company’s desire to achieve its ambition of becoming a leading national group in integrated healthcare and contributing to the broader healthcare objectives of the Kingdom in line with Saudi Vision 2030.
The Demerger is subject to the approval of the Company’s Extraordinary General assembly (“EGM”), which the Company will announce the invitation for in due course. The EGM’s agenda will include the Demerger along with the related bylaws’ amendments.
Well in advance of the Demerger EGM, the Company will publish a circular to its shareholders which will include the details of the Demerger, risk factors, and other financial and legal information, which would allow the shareholders to make informed decisions on the EGM resolutions.
The Company will announce any material developments in due course in accordance with the applicable laws and regulations.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.