61DH Kuwait Proj.27

TIDM61DH

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/

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

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November 21, 2023 03:58 ET (08:58 GMT)

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