Information: GFH Financial Group B.S.C. (“GFH”) and Ithmaar Holding B.S.C. (“Ithmaar”) would like to update the shareholders that following preliminary due diligence and discussions, both parties have mutually agreed to terminate the discussions as the requirements for the execution of the acquisition of Ithmaar’s financing and investment portfolios have not been met.
Expected Financial Impact: Not Applicable.
Previous Relevant Disclosures (if any): Discussions to Acquire Ithmaar’s Financing and Investment Portfolios dated 6th March 2024, and the follow up announcement on progress dated 7th April, 6th May 2024, 6th June 2024, 19th September 2024, 20th October 2024, 24th November 2024 and 24th December 2024.