The board of directors of Amanat Holdings has approved a financing plan amounting to 63.7 million dirhams, which will entail the issuance of new shares by its majority-owned subsidiary, Cambridge Health Group.
In a recent announcement, the company stated that the funds will be allocated to expand its hospital in Jeddah by approximately 70 beds, enhancing both outpatient services and surgical capabilities.
Additionally, the board has greenlighted a modification to the existing liquidity provider agreement with Al Ramz Capital, designating this as a related party transaction. This adjustment will enable the provider to buy and sell the company’s ordinary shares, within the statutory limit of 5% of the capital as stipulated by applicable laws and regulations.
Moreover, the decision included approval for various administrative matters and routine issues that will not impact the stock price.