Equipment House major shareholders to retain up to 43% stake

Logo of Scientific and Medical Equipment House Co. (Equipment House)

Scientific and Medical Equipment House Co. (Equipment House) received on Feb. 26 a signed declaration from some major shareholders to retain a maximum of 43% of the company's capital until the end of 2026.

In a statement to Tadawul, the company said the declaration is signed by some board members and six major shareholders, each holding an individual stake of at least 5% of the company's capital.

The shareholders are Matar Al-Arifi, Bandar Al-Arifi, Barakat Al-Arifi, Bashir Al-Arifi, Basel Al-Arifi, and Badr Al-Arifi. They confirmed their commitment to retaining no less than 5% of the company’s total shares each, from the date of the declaration until Dec. 31, 2026.

The declaration also includes commitments from 11 other shareholders, each currently holding less than 5% of the company's capital but collectively owning no less than 13%. They have pledged to maintain their combined ownership at no less than 13% from the date of the declaration until Dec. 31, 2026.

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As a result, the signatories collectively commit to maintaining an ownership stake of no less than 43% of the company's total shares from the date of the declaration until Dec. 31, 2026. Furthermore, the shareholders named in the declaration have pledged to subscribe to additional shares if necessary to maintain this percentage in the event of any changes to the company’s capital.