Mouwasat Medical Services - Company Overview

COMPANY OVERVIEW

The origin of Mouwasat dates back to 1974 when an establishment solely owned by Mr. Mohammad Sultan Al-Subaie was established with a share capital of 100,000 SAR. The main objective was to manage and operate medical facilities which started by launching Mouwasat Dispensary in Dammam in 1975. The Company established its first owned comprehensive medical facility in 1984 known as Mouwasat Hospital in Dammam, which commenced operation in 1988.

Mouwasat was converted into a limited liability company with commercial registration number 2050032029 issued in Dammam on 12 Ramadan 1417H (corresponding to 22 January 1997G) and a share capital of SAR 3,000,000 with 1,000 shares distributed equally among Mr. Mohammad Sultan Al-Subaie, Mr. Suliman Mohammad Al-Saleem and Mr. Nasser Sultan Al-Subaie. The increase in capital was made through capitalizing retained earnings. The Company is engaged in ownership, management, operation, and maintenance of hospitals, medical centers, medicine warehouses, and pharmacies.

The capital of the Company was increased on 27 Muharram 1419H (corresponding 23 May 1998G) to SAR 4,500,000 with par value of SAR 1,000 each. The increase in capital was made through capitalizing SAR 1,500,000 of retained earnings.

On 8 Thul Qa’dah 1425H (corresponding to 20 December 2004G), the shareholders resolved to increase the share capital of the Company to SAR 147,000,000, divided into 2,940,000 ordinary shares with SAR 50 nominal value, through capitalizing retained earnings.

The Company was converted from a limited liability into a joint stock company in accordance with the Resolution of the Minister of Commerce and Industry Number 1880 dated 4 Thul Hijjah 1426H (corresponding to 4 January 2006G) with a share capital of SAR 147,000,000 divided into 2,940,000 ordinary shares with a nominal value of SAR 50 per share.

Pursuant to the resolution of the Extraordinary General Assembly convened on 25 Rabe’a Athani 1427H (corresponding to 23 May 2006G), the capital of the Company was increased from SAR 147,000,000 to SAR 250,000,000 divided into 25,000,000 shares fully paid with a nominal value of SAR 10 per share. This SAR 103,000,000 increase was financed by capitalizing SAR 92,993,474 from retained earnings and SAR 10,006,526 from statutory reserve.

REGISTERED OFFICE AND REPRESENTATIVES

MOUWASAT MEDICAL SERVICES COMPANY P.O. BOX 282 DAMMAM 31411 UHOD DISTRICT - BLOCK 71 - KING FAHAD ROAD KINGDOM OF SAUDI ARABIA TEL. NO: +966 (3) 820 0000 - +966 (3) 820 0016 FAX.: +966 (3) 820 3436 - +966 (3) 820 0014
Company's Representative MR. NASSER SULTAN AL-SUBAIE MOUWASAT MEDICAL SERVICES COMPANY P.O. BOX 282, DAMMAM 31411 KINGDOM OF SAUDI ARABIA TEL.: +966 3 820 0000; FAX.: +966 3 820 3436 EMAIL: nassersultan@mouwasat.com
Board of Director's Secretary MR. MAHMOUD SULIMAN SHURRAB MOUWASAT MEDICAL SERVICES COMPANY P.O. BOX 282, DAMMAM 31411 KINGDOM OF SAUDI ARABIA TEL.: +966 3 820 0000; FAX.: +966 3 820 3436 EMAIL: Msoliman@mouwasat.com	Shareholder's Relation Officer MR. MUSTAFA HUSNY MUSTAFA MOUWASAT MEDICAL SERVICES COMPANY P.O. BOX 282, DAMMAM 31411 KINGDOM OF SAUDI ARABIA TEL.: +966 3 820 0000; FAX.: +966 3 820 3436 EMAIL: mostafa_hosny@mouwasat.com

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