ANGHAMI CONFIRMS RECEIPT OF PRELIMINARY, NON-BINDING GOING-PRIVATE PROPOSAL FROM CONTROLLING SHAREHOLDER, OSN STREAMING LIMITED; ANNOUNCES APPOINTMENT OF INDEPENDENT DIRECTORS AND FORMATION OF SPECIAL COMMITTEE

Anghami Inc. (NASDAQ: ANGH) has received a preliminary, non-binding proposal from OSN Streaming Limited to acquire all outstanding ordinary shares not already owned by OSN in a going-private transaction. The proposed purchase price is set at $3.39 in cash per ordinary share, valuing the transaction at approximately $3.39 million. OSN currently holds around 67% of Anghami's issued and outstanding shares, indicating a significant controlling interest in the company. The announcement was made on June 30, 2026, and a special committee has been established by Anghami's Board of Directors to review and negotiate the proposal.

Anghami is recognized as a leading multi-media technology streaming platform in the Middle East and North Africa (MENA) region, boasting over 130 million registered users and more than 3.5 million paid subscribers. The platform has developed a comprehensive ecosystem that includes exclusive premium video, music, podcasts, and live entertainment, making it a key player in the region's digital content landscape. OSN Streaming Limited, as the controlling shareholder, aims to consolidate its ownership of Anghami, potentially streamlining operations and enhancing strategic alignment within the rapidly evolving streaming sector.

The strategic rationale behind OSN's proposal appears to be centered on the increasing competition in the streaming market, particularly in the MENA region, where consumer preferences are shifting towards on-demand content. By acquiring the remaining shares of Anghami, OSN could leverage its resources to further enhance the platform's offerings, potentially integrating it with its existing services. This move could also facilitate a more focused approach to content acquisition and partnerships, which are critical in retaining and expanding the subscriber base.

The formation of a special committee, composed of newly appointed independent directors, underscores the importance of a thorough evaluation process. The committee is tasked with assessing the proposal and exploring any potential strategic alternatives, ensuring that the interests of non-affiliated shareholders are prioritized. This governance structure is essential in maintaining transparency and fairness in the transaction process, especially given OSN's significant ownership stake.

Looking ahead, the broader market implications of this proposed acquisition could be significant. As the streaming industry continues to mature, consolidation among key players may become more prevalent, driven by the need for scale and the ability to offer diverse content portfolios. If the transaction proceeds, it could set a precedent for similar deals in the sector, influencing how companies approach growth strategies in an increasingly competitive environment. However, the outcome remains uncertain, as the special committee has the authority to reject the proposal, and any definitive agreement would require further shareholder approval.