26-12-2024
Purchase of a property with title deed number (96053) by one of the subsidiaries of Estithmar Holding Q.P.S.C. ("The View Hospital W.L.L.") from related parties ("the transaction"). The payment will be partially in cash through a long-term loan and partially in kind by increasing the company's share capital via issuing new shares through a private placement.
1- The total value of the acquisition deal for The View Hospital LLC’s property amounts to QAR /QAR 2,060,000,000/ (Two billion sixty million Qatari Riyals).
2- The value of the loan that the company intends to obtain from Qatar National Bank (QNB) to finance the cash portion of the acquisition deal is /QAR 1,442,000,000/ (One billion four hundred forty-two million Qatari Riyals).
3- As a result of this acquisition, the company’s financial position will be affected as follows: Assets will increase of /QAR 2,060,000,000/ (Two billion sixty million Qatari Riyals)., Long-Term Liabilities will increase of /QAR 1,442,000,000/ (One billion four hundred forty-two million Qatari Riyals)., and Equity will increase of QAR /QAR 618,000,000/ Six hundred eighteen million Qatari Riyals.
4- The value of the additional shares representing the in-kind portion of the funding will be calculated as follows: the final share price will be the nominal value (1 Qatari Riyal) plus a share premium, which represents the difference between the nominal value and the actual share price at the stock exchange’s closing on the day of the Extraordinary General Assembly meeting, reduced by 25% of the total. For example, if the company’s share price at the end of trading on the day of the Extraordinary General Assembly meeting is 1.7 Qatari Riyals, the share price will be 1 Qatari Riyal (nominal value) plus 0.7 Qatari Riyal (share premium) discounted by 25%, making the share price issued to the selling company 1.275 Qatari Riyals. Based on this example, the company’s shares would increase by 484,705,882 shares, calculated by dividing the total in-kind capital of 618 million Qatari Riyals by the adjusted share price of 1.275 Qatari Riyals. The actual number of issued shares will depend on the final share price determined on the day of the Extraordinary General Assembly meeting.