Saudi German Health shareholders to vote on sukuk issuance on Aug. 17

One of Middle East Healthcare Co.'s (Saudi German Health) clinics

Shareholders of Middle East Healthcare Co. (Saudi German Health) will vote on a sukuk issuance, in a single or multiple offerings, through one or multiple programs created for this purpose or on a standalone basis, in the extraordinary general meeting (EGM) scheduled for Aug. 17.  

The sukuk will be issued by way of public offering or private placement, inside or outside Saudi Arabia. They may be listed on any exchange, be it denominated in Saudi Riyals or any other currency, the company said in a statement to Tadawul today, July 26. 

They will also discuss delegating the powers necessary to the board of directors to proceed with the issuance and take the necessary actions. These actions include, but not limited to, approving the sukuk structure with the related terms and conditions, as well as determining its value, size, price, returns, and methods of proceeds utilization. 

The actions also include deciding on ways of payment under this issuance, maturity or redemption date, obtaining the necessary regulatory, Shariah or other any other approvals inside or outside Saudi Arabia, agreeing on the final allocations, and appointing advisors or any other parties in connection with the issuance.