REG - Kuwait ProjectCo SPC - KIPCO announces a deal between OSN+ and Anghami
21/11/2023 10:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231121:nRSU1358Ua&default-theme=true RNS Number : 1358U Kuwait Projects Co SPC Limited 21 November 2023 Kuwait Projects Co SPC Limited KIPCO announces a strategic deal between OSN+ and Anghami Kuwait Projects Company (Holding) K.S.C.P. (the Guarantor of Kuwait Projects Co SPC Limited), announced that Panther Media Group Ltd known as "OSN" (KIPCO Group's subsidiary) has signed a conditional binding agreement to combine its streaming platform OSN+ with Anghami Inc. (Listed on Nasdaq) and to inject up to USD 50 Mn (equivalent to KD 15.4 Mn) in Anghami Inc. for a majority stake in Anghami Inc. Execution of the transaction is subject to obtaining customary regulatory and anti-trust approvals, with the integration expected to be finalized early 2024. For more details, please refer the press release available at: https://kipco.com/kipco-announces-a-deal-that-brings-together-osn-and-anghami/ (https://kipco.com/kipco-announces-a-deal-that-brings-together-osn-and-anghami/) For further information, please contact: Investors, Press and Media: Eman Al-Awadhi 49(th) Floor KIPCO Tower, Khaled Bin Al-Waleed St, Sharq P.O. Box 23982 Safat 13100 Kuwait Tel: +965 2294 3416 Email: eman.alawadhi@kipco.com This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END AGRPPGMAGUPWURG