Anghami Forms Special Committee to Evaluate OSN Takeover Bid

In response to the proposal, Anghami has appointed three independent directors to oversee the negotiation process: Nathan Scott Fine, Guergui Saykov Stoyanov, and Chiara Marcati. These directors have been organized into a newly formed Special Committee, which holds the sole authority to evaluate, reject, or negotiate the terms of the acquisition. The company emphasized that no transaction will proceed without a favorable recommendation from this committee.

The three appointees bring extensive backgrounds in corporate finance, advisory, and artificial intelligence. Fine, a veteran of investment banking and corporate restructuring, will chair the committee. Stoyanov offers expertise in global management consulting, while Marcati, currently an executive at AI71, brings experience in scaling AI solutions across the EMEA region. The committee is empowered to retain its own legal and financial advisors to ensure the interests of minority shareholders are protected.

OSN, which already holds a 67% stake in the Abu Dhabi-headquartered firm, stated that the acquisition would not be subject to a financing condition. While the proposal is currently on the table, the company cautioned that there is no guarantee a definitive agreement will be reached. Anghami maintains that it may continue as a publicly listed entity should the committee determine that the buyout offer fails to meet the company's best interests.