Kaya Limited announced that after weathering the disruptions created on account of the Covid-19 pandemic, the company use liberalization in the aforesaid foreign investment regulations as an opportunity to streamline and optimize its corporate structure in the GCC Countries. The company is now desirous of acquiring ownership rights in the clinics, located in the GCC Countries, by way of incorporation of new limited liability company ("LLC"); or acquisition of existing LLC(s) from local owner(s)/affiliates and/or converting the relationship with the local partners/affiliates into joint venture entities, which shall own one or more clinic(s) per LLC; or exiting from the existing arrangement. In this regard, the Company will enter into requisite arrangements with local owners/affiliates to implement an ownership structure or joint venture through DMCC or FZE, as the case maybe, subject to the receipt of applicable statutory and regulatory approvals.

The said LLC(s) may be owned or controlled by the Kaya Entities, either singly as a wholly owned subsidiary(s) of the Kaya GCC Entities or as joint venture company(s) along with a joint venture partner. As part of the business reorganization proposal, upon incorporation or acquisition of the LLCs, the assets of respective clinics currently owned by Kaya GCC Entity(ies) shall be required to be transferred to and vested with such respective clinic- owning LLC(s). In this regard, Kaya GCC Entity(ies), may be required to sell, transfer, or otherwise dispose of its assets to the newly formed/acquired LLC's. After completion of the business reorganization, the Company through Kaya GCC Entities will operate clinics in the GCC Countries in the following manner: United Arab Emirates: FZE will operate clinics through its subsidiaries.

In this regard, the Company will have 7 LLCs which will own and operate 15 clinics; Sultanate of Oman: FZE will operate 2 clinics through a joint venture entity; and Kingdom of Saudi Arabia: DMCC will operate 3 clinics through its subsidiaries.