Today, Monday, the Arabi Holding Group Company announced the details of the reconciliation agreement executed with Mashfa Medical Services Company. Following that announcement, Boursa Kuwait announced the resumption of trading of “Arabi Holding” shares effective tomorrow, Tuesday.
Arabi Holding said in a statement filed to Boursa Kuwaiti today the content of the reconciliation agreement with Mashfa Medical Services Company regarding the ownership of the shares of the Health Insurance Hospitals Company (DHAMAN), and in return, the two parties will drop all legal proceedings filed against each other.
The company clarified that the agreement has no direct financial impact on the Group at the moment as it relates to future obligations. Any impact will be disclosed as soon as it occurs.
Meanwhile, Boursa Kuwait announced today, following the above-mentioned disclosure, the resumption of trading of Arabi Holding shares, starting tomorrow, Tuesday, December 28, 2021, pursuant to the Capital Markets Authority’s request.
The stock exchange suspended trading on Arabi Holding's shares, as of yesterday, Sunday, following CMA’s request, without explaining the reasons.
Arabi Holding announced last Wednesday that it had reached an agreement with Mashfa Medical Services Company, according to which a reconciliation between the two companies would take place, without disclosing any details.