[Last updated: 1 January 2025, unless otherwise noted]

The target must obtain the CMA's approval prior to delisting. It must also notify Tadawul of its intention to delist. The delisting application must provide the following:

• specific reasons for the proposed delisting;
• a copy of the form of required announcements;
• a copy of all documents addressed to the shareholders of the target; and
• the names and contact details of the financial advisor and legal advisor.

Once the CMA approves the request, the target is required to obtain the consent of its shareholders.