# EDGAR Filing Document

**Accession Number:** 0001808127
**File Stem:** 0001104659-23-027934
**Filing Date:** 2023-3
**Character Count:** 38324
**Document Hash:** 4397def70af3bd10cb4432345071689f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-027934.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001104659-23-027934

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** International General Insurance Holdings Ltd.
- **CENTRAL INDEX KEY:** 0001794338
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE CARRIERS, NEC [6399]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** D0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91471
- **FILM NUMBER:** 23699271

**BUSINESS ADDRESS:**
- **STREET 1:** 74 ABDEL HAMID SHARAF STREET
- **STREET 2:** P.O. BOX 941428
- **CITY:** AMMAN
- **STATE:** M2
- **ZIP:** 11194
- **BUSINESS PHONE:** 962 6 562 2009

**MAIL ADDRESS:**
- **STREET 1:** 74 ABDEL HAMID SHARAF STREET
- **STREET 2:** P.O. BOX 941428
- **CITY:** AMMAN
- **STATE:** M2
- **ZIP:** 11194
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Oman International Development & Investment Co. SAOG
- **CENTRAL INDEX KEY:** 0001808127
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** P4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 3886, RUWI
- **CITY:** MUSCAT
- **STATE:** P4
- **ZIP:** 112
- **BUSINESS PHONE:** 968 2476 9500

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 3886, RUWI
- **CITY:** MUSCAT
- **STATE:** P4
- **ZIP:** 112

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**SCHEDULE 13D**

Under the Securities Exchange Act of 1934

(Amendment No. 1)\*

**INTERNATIONAL GENERAL <br> INSURANCE HOLDINGS LTD.**

(Name of Issuer)

**Common Shares $0.01 par value**

(Title of Class of Securities)

**G4809J106**

(CUSIP Number)

**Sarah Lashkoo<br> Oman International Development & Investment Co. SAOG**

**P.O. Box 3886, Ruwi, Postal Code 112, Sultanate of Oman**

**+968 2476 9500**

(Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications)

**February 6, 2023**

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ◻

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page

The information required on this cover page shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Act"), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CUSIP No.** | **G4809J106** | **13D** | **Page**<sub>2</sub> | **of**<sub>5</sub> | **Pages** |

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| | | | |
|:---|:---|:---|:---|
| **1** | NAMES OF REPORTING PERSONS:<br> Oman International Development & Investment Co. SAOG | NAMES OF REPORTING PERSONS:<br> Oman International Development & Investment Co. SAOG | NAMES OF REPORTING PERSONS:<br> Oman International Development & Investment Co. SAOG |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:<br> (a) ◻<br> (b) ◻ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:<br> (a) ◻<br> (b) ◻ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:<br> (a) ◻<br> (b) ◻ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| **4** | SOURCE OF FUNDS:<br> OO | SOURCE OF FUNDS:<br> OO | SOURCE OF FUNDS:<br> OO |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e): ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e): ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e): ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>Sultanate of Oman | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>Sultanate of Oman | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>Sultanate of Oman |
| NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | **7** | SOLE VOTING POWER<br> 9,575,138\* |
| NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | **8** | SHARED VOTING POWER<br> 0 |
| NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | **9** | SOLE DISPOSITIVE POWER<br> 9,575,138\* |
| NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | **10** | SHARED DISPOSITIVE POWER<br> 0 |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,575,138\* | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,575,138\* | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,575,138\* |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: ☐ | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: ☐ | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):<br> 20.4%\*\* | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):<br> 20.4%\*\* | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):<br> 20.4%\*\* |
| **14** | TYPE OF REPORTING PERSON:<br> CO | TYPE OF REPORTING PERSON:<br> CO | TYPE OF REPORTING PERSON:<br> CO |

---

\* See Item 5 of this statement on Schedule 13D.

\*\* For limited purposes of this statement on Schedule 13D only, the percentage of common shares beneficially owned by the Reporting Person is based on 46,886,225 common shares outstanding as set forth in the Report on Form 6-K of International General Insurance Holdings Ltd (No. 001-39255) (the "Company") filed with the Securities and Exchange Commission (the "**SEC**") on January 31, 2023, derived from 49,158,000 common shares outstanding as of September 30, 2022 minus 2,271,775 common shares repurchased by the registrant in a privately negotiated transaction. Were the repurchased common shares included in the denominator, the Reporting Person would own 19.4% of the common shares issued and outstanding.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CUSIP No.** | **G4809J106** | **13D** | **Page**<sub>3</sub> | **of**<sub>5</sub> | **Pages** |

---

This Amendment No. 1 (this "<u>Amendment No. 1</u>") amends and supplements certain information in the Schedule 13D, filed with the SEC on March 31, 2020 (the "<u>Original 13D</u>" and, together with this Amendment No. 1, the "<u>Schedule 13D</u>") by the Reporting Person.

Except as set forth below, all Items of the Original 13D remain unchanged. All capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Original 13D.

**Item 2. Identity and Background**.

Item 2 of the Original 13D is hereby amended and restated by the following:

This Schedule 13D is filed by Oman International Development & Investment Co. SAOG (the "**Reporting Person**"), a joint stock company organized under the laws of the Sultanate of Oman.

The address of principal business and principal office of the Reporting Person is:

Madinat Al Erfaan

Muscat Hills, Block No 9993

Building No. 95, Seventh Floor

Sultanate of Oman

The principal business of the Reporting Person is to invest in primarily six platforms: banking, insurance, leasing, real estate, investment banking and financial investments.

During the past five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

During the past five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Information regarding each executive officer and director of the Reporting Person is set forth in Annex A hereto and incorporated herein by reference.

**Item 3. Source and Amount of Funds or Other Consideration.**

Item 3 of the Original 13D is hereby amended to include the following:

Between June 10, 2020 and February 2, 2023, the Reporting Person purchased 359,469 Common Shares in the open market for an aggregate purchase price of $1,088,591 and sold 50,490 Common Shares in the open market for an aggregate sale price of $144,757.

On February 6 and February 10, 2023, respectively, the Reporting Person purchased, on each day, a total of 250,000 Common Shares in the open market for an aggregate purchase price of $1,626,625.

On February 21, 2023, the Reporting Person purchased 1,823,467 Common Shares from Amir Ahmed Abu Ghazaleh, a Jordanian national (the "**Seller**") for an aggregate purchase price of $15,864,162.90 pursuant to the agreement of sale and purchase dated February 21, 2023 (the "**Sale and Purchase Agreement**"), between the Reporting Person and the Seller.

All of the above Common Shares were purchased with working capital of the Reporting Person.

**Item 4. Purpose of the Transaction.**

The Reporting Person acquired the Common Shares for investment purposes and intends to review investments in the Issuer on a continuing basis. Based on such review, the Reporting Person may acquire additional securities, or retain or sell all or a portion of the securities then held, including without limitation in open market, block sales or privately negotiated transactions, at any time, and may formulate other purposes, plans or proposals regarding the Issuer or any of its securities to the extent deemed advisable in light of strategic investment and trading policies of the Reporting Person.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CUSIP No.** | **G4809J106** | **13D** | **Page**<sub>4</sub> | **of**<sub>5</sub> | **Pages** |

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The Reporting Person may engage in discussions with management, the Issuer's board of directors, shareholders of the Issuer and other relevant parties or encourage such persons to consider or explore extraordinary corporate transactions, such as a merger, take private transaction that could result in a de-listing or de-registration of the Common Shares, sales or acquisitions of assets or businesses, changes to the capitalization or dividend policy of the Issuer or other material changes to the Issuer's business or corporate structure, including changes in management or the composition of the Issuer's board of directors.

Any actions the Reporting Person might undertake will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects, price levels of the Issuer's securities, general market, industry and economic conditions, the relative attractiveness of alternative business and investment opportunities and other future developments. Other than as described above, the Reporting Person does not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Person may change its purpose or formulate different plans or proposals with respect thereto at any time.

**Item 5. Interest in Securities of the Issuer.**

Item (a) to (c) of Item 5 of the Original 13D are hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of February 21, 2023, the Reporting Person beneficially owned 9,575,138 Common Shares, representing 20.4% of the outstanding Common Shares.

(b) As of February 21, 2023, the Reporting Person had sole voting and dispositive power over 9,575,138 Common Shares. The Reporting Person did not have shared voting and dispositive power over any Common Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Reporting person effected the following sales and purchases of
Common Shares during the past sixty days:

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| | | | |
|:---|:---|:---|:---|
| **Date** | **Amount of<br> Common<br> Shares<br> Purchased** | **Price Per<br> Common<br> Share** | **Where and How Effected** |
| January 31, 2023 | 24800 | $3.16 | Open Market |
| January 31, 2023 | 200 | $3.16 | Open Market |
| February 1, 2023 | 921 | $3.16 | Open Market |
| February 2, 2023 | 99079 | $3.27 | Open Market |
| February 6, 2023 | 250000 | $3.23 | Open Market |
| February 10, 2023 | 250000 | $3.27 | Open Market |
| February 21, 2023 | 1823467 | $8.70 | Purchase pursuant to the Sale and Purchase Agreement described in Items 3 and 6 of this Schedule 13D. |

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| | | | |
|:---|:---|:---|:---|
| **Date** | **Amount of Common Shares Sold** | **Price Per Common Share** | **Where and How Effected** |
| December 30, 2022 | 10000 | $3.00 | Open Market |
| December 31, 2022 | 15000 | $3.00 | Open Market |

---

To the knowledge of the Reporting Person, none of the directors and officers of the Reporting Person listed in Annex A to this Schedule 13D effected any transactions in the Common Shares during the past sixty days.

**Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer**.

Item 6 of the Original 13D is hereby amended to add the following:

*Sale and Purchase Agreement*

The Reporting Person entered into the Sale and Purchase Agreement described in Item 3 above with the Seller. Under the Sale and Purchase Agreement, the Reporting Person purchased 1,823,467 Common Shares from the Seller. The Sale and Purchase Agreement contains customary representations, warranties and covenants of the parties thereto.

**Item 7. Materials to be Filed as Exhibits**.

Item 7 of the Original 13D is hereby amended and supplemented by adding the following:

4 Purchase and Sale Agreement, dated as of February 21, 2023, between Oman International Development & Investment Company SAOG as buyer thereunder, and Amir Ahmed Abu Ghazaleh as seller thereunder.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CUSIP No.** | **G4809J106** | **13D** | **Page**<sub>5</sub> | **of**<sub>5</sub> | **Pages** |

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**SIGNATURES**

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: March 2, 2023

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| | |
|:---|:---|
| OMAN INTERNATIONAL DEVELOPMENT & INVESTMENT CO. SAOG | OMAN INTERNATIONAL DEVELOPMENT & INVESTMENT CO. SAOG |
| By: | /s/ Sanjay Kawatra |
|  | Name: Sanjay Kawatra |
|  | Title: Deputy Group Chief Executive Officer |
| By: | /s/ Waleed Al Yarubi |
|  | Name: Waleed Al Yarubi |
|  | Title: Chief People and Strategy Officer |

---

**ANNEX A**

The following sets forth the name, position, principal occupation and citizenship of each director and executive officer of Oman International Development & Investment Co. SAOG ("**Ominvest**").

**DIRECTORS OF OMINVEST**

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Principal Occupation or <br> Employment** | **Business <br> Address** | **Citizenship** |
| Khalid Muhammad AlZubair AlZubair | Chairman of Ominvest | (1) | Oman |
| Khalid Abdullah Ali Al Khalili | Deputy Chairman of Ominvest | (1) | Oman |
| Rashid Ali Al Balushi | Director of Ominvest | (1) | Oman |
| Jamal Shamis Saoud Al Hooti | Director of Ominvest | (1) | Oman |
| Evangelos Papadopoulos | Director of Ominvest | (1) | India |
| Jamal Said Mohamed Al Tai | Director of Ominvest | (1) | Oman |
| Najat Ali Al Lawati | Director of Ominvest | (1) | Oman |
| Khaula Hamood Abdullah Al Harthi | Director of Ominvest | (1) | Oman |

---

**EXECUTIVE OFFICERS OF OMINVEST**

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Principal Occupation or <br> Employment** | **Business <br> Address** | **Citizenship** |
| Abdulaziz Mohammed Al Balushi | Group Chief Executive Officer of Ominvest | (1) | Oman |
| Sanjay Kawatra | Deputy Group Chief Executive Officer of Ominvest | (1) | India |
| Waleed Nasser Al Yarubi | Chief People and Strategy Officer of Ominvest | (1) | Oman |
| Al Wadhah Suleiman Al Adawi | Chief Business Officer of Ominvest | (1) | Oman |
| Hamid Sloum Al Harthi | Chief Investor Relations Officer of Ominvest | (1) | Oman |
| Sarah Lashkoo | Company Secretary and Chief Legal Officer of Ominvest | (1) | Oman |
| Muneer Mohammed Al Mughairy | Chief Audit Officer of Ominvest | (1) | Oman |
| Nasser Rashid Al Shibli | Chief Real Estate Officer of Ominvest |  | Oman |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Madinat Al Erfaan, Muscat Hills, Block No 9993, Building No. 95, Seventh Floor. Sultanate of Oman

## Exhibit 99.4

**Exhibit 4** 

**<u>AGREEMENT OF SALE AND PURCHASE</u>**

**THIS** Agreement of Sale and Purchase (this "**Agreement**") is made this 21st of February 2023, between Amir Ahmed Abu Ghazaleh, a Jordanian national ("**Seller**"), and Oman International Development and Investment Co. SAOG, a public joint stock company established under the laws of the Sultanate of Oman, having Commercial Registration No. 1173774, with its address registered at PO Box 3886, Postal Code 112, the Sultanate of Oman ("**Buyer**" and, together with Seller, the "**Parties**").

**WHEREAS;**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Seller owns 1,823,467 shares (the "**Shares**") of common stock of International General
Insurance Holdings Ltd., a Bermuda exempted company ()"**IGI** "), which is an SEC registrant whose common stock is listed
with The Nasdaq Stock Market LLC under the symbol "IGIC"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Seller wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Shares upon the terms and
conditions of this Agreement (the "**Contemplated Transaction** ").

**NOW THEREFORE**, in consideration of the premises, representations and warranties and mutual covenants contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties have agreed to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;**1.**  **<u>SALE AND PURCHASE OF THE SHARES</u>** 

Upon the terms, and subject to the satisfaction of the conditions, set forth in this Agreement, Seller agrees to sell, and Buyer agrees to purchase, the Shares, free and clear of any mortgage, pledge, lien, charge, security interest, claim, community property interest, option, equitable interest or other encumbrance (each, an "**Encumbrance**") (other than restrictions on transfer arising under applicable state or federal securities laws).

&nbsp;&nbsp;&nbsp;&nbsp;**2.**  **<u>PURCHASE PRICE AND CLOSING</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The purchase price for the Shares shall be US$8.70 per share, for an aggregate of US$15,864,162.90 ()"**Aggregate Purchase Price** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 The closing of the Contemplated Transaction (the "**Closing**") shall take place remotely
via exchange of documents and signatures by conference call or electronic means, as mutually agreed by the Parties, no later than the
third business day following the satisfaction or waiver of the conditions set forth in this Agreement or such other date as agreed between
the Parties (the "**Closing Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 On the Closing Date, (a) Buyer shall pay, or cause to be paid, the Aggregate Purchase Price to Seller
in cash by wire transfer of immediately available funds to the account provided by Seller; and (b) Seller shall deliver to Buyer in its
name the Shares in book entry form in Buyer's account with Continental Stock Transfer & Trust ()"**Continental** ").

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|  | ***Highly Confidential*** |
| Page 2 |  |

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&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>REPRESENTATIONS AND WARRANTIES OF SELLER</u>** 

Seller hereby represents and warrants to Buyer, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 Seller has the requisite power, authority and capacity to enter into this Agreement, to perform his obligations
hereunder, and to consummate the Contemplated Transaction. The execution, delivery and performance of this Agreement by Seller, and the
consummation of the Contemplated Transaction, do not and will not (a) conflict with or result in a breach or violation of, or constitute
a default under (with or without notice or lapse of time, or both) or (b) give rise to a right of termination, cancellation, modification
or acceleration of any liability or loss of any benefit, in either case, under (i) any contract under which Seller is bound or (ii) to
Seller's knowledge, any law, order, judgment or decree applicable to Seller.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Seller is the lawful, record and beneficial owner of all the Shares, free and clear of any Encumbrance
or other transfer restrictions, rights of first offer, rights of first refusal, buy-sell rights, pooling arrangements, lock-ups or any
similar rights held by Seller or any third party (other than restrictions on transfer arising under applicable state or federal securities
laws). Except pursuant to this Agreement, there is no agreement pursuant to which Seller has, directly or indirectly, granted any option,
warrant or other right to any person to acquire the Shares or any interest therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 This Agreement, upon execution and delivery by Seller, will constitute the valid and legally binding obligations
of Seller, enforceable against Seller in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors' rights generally, and
as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Except for any that may have been obtained or made prior to the Closing, no consent, approval, order or
authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority
or other third party is required on the part of Seller in connection with the consummation of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 IGI has not notified Seller of any suspension of Seller's ability to freely resell the Shares to Buyer
pursuant to the resale registration statement on Form F-3 (Reg. No. 333-254986) with a related prospectus filed pursuant to Rule 424(b)(1)
dated November 3, 2021 (the "**Registration Statement** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 Seller acquired and fully paid for the Shares greater than one year prior to the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 Seller is not now, and has not been during the preceding three months, an officer, trustee or more than
10% shareholder of IGI, nor has Seller been during the preceding three months an affiliate of IGI.

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|  | ***Highly Confidential*** |
| Page 3 |  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 Buyer's counsel may counsel rely upon the completeness and accuracy of the statements contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>REPRESENTATIONS AND WARRANTIES OF BUYER</u>** 

Buyer hereby represents and warrants to Buyer, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Buyer has the requisite power, authority and capacity to enter into this Agreement, to perform its obligations
hereunder, and to consummate the Contemplated Transaction. The execution, delivery and performance of this Agreement by Buyer, and the
consummation of the Contemplated Transaction, do not and will not (a) conflict with or result in a breach or violation of, or constitute
a default under (with or without notice or lapse of time, or both) or (b) give rise to a right of termination, cancellation, modification
or acceleration of any liability or loss of any benefit, in either case, under (i) any contract under which Buyer is bound (ii) any provision
of Buyer's organizational documents, or (iii) to Buyer's knowledge, any law, order, judgment or decree applicable to Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 This Agreement, upon execution and delivery by Buyer, will constitute the valid and legally binding obligations
of Buyer, enforceable against Buyer in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors' rights generally, and
as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Except for any that may have been obtained or made prior to the Closing, no consent, approval, order or
authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority
or other third party is required on the part of Buyer in connection with the consummation of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 Buyer has access to sufficient cash resources to consummate the Contemplated Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Buyer has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of its prospective investment in the Shares and has the ability to bear the economic risks of its prospective investment
in the Shares and can afford a complete loss of its investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Buyer is currently located outside of the United States and negotiated this Agreement outside of the United
States.

&nbsp;&nbsp;&nbsp;&nbsp;**5.**  **<u>COVENANTS</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Subject to the terms and conditions of this Agreement, from the date of this Agreement, each of the Parties
shall use its commercially reasonable efforts to take or cause to be taken all actions, to file or cause to be filed all documents, to
give or cause to be given all notices to governmental authorities, to obtain or cause to be obtained all authorizations, consents, waivers,
approvals, permits or orders from governmental authorities, and to do or cause to be done all other things necessary, proper or advisable,
in order to consummate and make effective the Contemplated Transaction (including satisfaction, but not waiver, of the conditions set
forth in Section 6), *provided* that under no circumstances shall any Party hereto or any of their subsidiaries be required to make
any payment to secure any consent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 The Parties shall each use commercially reasonable efforts to cooperate to procure the satisfaction of
the conditions set forth in Section 6, including but not limited to promptly providing information reasonably necessary to make any notification
or filing required by any relevant regulations and for the issuance of any legal opinion required in connection with the Contemplated
Transaction or providing any information or documents requested by Continental.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 In the event of any subsequent transfer of the Shares, if any, Buyer shall comply with the transfer restrictions
described in the direct registration book entry account statement in Buyer's account with Continental or set forth on any stock certificate
representing the Shares, to the extent such restrictions remain in effect, and will give to each person to whom it proposes to transfer
Shares notice of such restrictions on transfer of such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 To extent required by IGI or Continental, the Parties shall each cooperate in causing any legal opinions,
certifications or other evidence, as necessary, to be delivered to IGI and/or Continental, to be dated as of or prior to Closing, in a
form that is reasonably satisfactory to IGI and Continental and the relevant Party, which enable each of IGI and Continental to determine
that the Shares may be transferred from Seller to Buyer either pursuant to an effective registration statement or pursuant to Rule 144
under the U.S. Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;**6.**  **<u>CONDITIONS</u>** 

The obligations of Buyer to consummate the Contemplated Transaction is subject to the satisfaction (or waiver by Buyer in its sole discretion) of the following conditions as of or prior to the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Buyer shall have received from Seller a duly executed stock power evidencing the transfer of the Shares
to Seller, with the signature of Seller, if required by Continental, guaranteed by an "eligible guarantor institution" under
the Security Transfer Agent Medallion Program; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 Buyer shall have received confirmation from Continental that it has received the stock power and representation
letter and that it will effectuate the transfer of the Shares to Buyer.

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&nbsp;&nbsp;&nbsp;&nbsp;**7.**  **<u>MISCELLANEOUS</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 This Agreement constitutes the entire understanding and agreement of the parties relating to the subject
matter hereof and supersedes any and all prior understandings, agreements, negotiations and discussions, both written and oral, between
the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 All costs and expenses, including, fees and disbursements of counsel,
advisors and brokers incurred in connection with this Agreement and the Contemplated Transaction
shall be borne by the Party incurring such costs and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 Neither party may assign any of the respective rights hereunder without the prior written consent of the
other, provided that Buyer may assign any of the rights and delegate the obligations hereunder to any of its affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 This Agreement may be executed in any number of counterparts, each of which will be deemed an original,
but all of which together will constitute but one and the same instrument. This Agreement will become effective when duly executed and
delivered by each party hereto. Counterpart signature pages to this Agreement may be delivered by facsimile or electronic delivery (i.e.,
by email of a PDF signature page) and each such counterpart signature page will constitute an original for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction
will not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. In the event that any provision hereof would, under applicable
law, be invalid or unenforceable in any respect, each party hereto intends that such provision will be construed by modifying or limiting
it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 This Agreement, the rights arising hereunder and all actions arising in connection with the transactions
contemplated hereby will be governed by and construed in accordance with the laws of the State of New York, without giving effect to any
choice of law or conflict of law rules or provisions that would cause the application of the laws of any jurisdiction other than the State
of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 Each Party hereby acknowledges and agrees that the other Party would be damaged irreparably in the event
any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached. Accordingly,
each of Party agrees that the other Party will be entitled to an injunction or injunctions to prevent breaches of the provisions of this
Agreement and to enforce specifically this Agreement and the terms and provisions hereof. Each Party further agrees that, in the event
of any action for an injunction or specific performance in respect of any such breach, he, she or it shall not assert that a remedy at
law would be adequate and hereby waives any defenses in any action for specific performance that money damages would be adequate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 Subject to Section 7.7, any unresolved controversy or claim arising out of or relating to this Agreement
shall be submitted to arbitration by one arbitrator mutually agreed upon by the Parties, and if no agreement can be reached within thirty
(30) days after names of potential arbitrators have been proposed by the American Arbitration Association (the "**AAA** "),
then by one arbitrator having reasonable experience in securities transactions and who is chosen by the AAA. The arbitration shall take
place in New York, NY in accordance with the AAA rules then in effect, and judgment upon any award rendered in such arbitration will be
binding and may be entered in any court having jurisdiction thereof. There shall be limited discovery prior to the arbitration hearing
as follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the issues to
be arbitrated, (b) depositions of all party witnesses and (c) such other depositions as may be allowed by the arbitrators upon a showing
of good cause. Depositions shall be conducted in accordance with the New York Code of Civil Procedure, the arbitrator shall be required
to provide in writing to the parties the basis for the award or order of such arbitrator, and a court reporter shall record all hearings,
with such record constituting the official transcript of such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 Any term of this Agreement may be amended or terminated only with the mutual written consent of the Parties.
Any term of this Agreement may be waived by the Party against whom such waiver is sought to be enforced.

[*Signature Page Follows*]

**IN WITNESS WHEREOF**, this Agreement has been signed by the parties hereto as of the date first above written.

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| | |
|:---|:---|
| **BUYER** | **BUYER** |
| **Oman International Development and Investment Co. SAOG** | **Oman International Development and Investment Co. SAOG** |
| By: | /s/ Abdulaziz Al Balushi |
| Name: | Abdulaziz Al Balushi |
| Title: | GCEO |

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| | |
|:---|:---|
| By: | /s/ Sanjay Kawatra |
| Name: | Sanjay Kawatra |
| Title: | Deputy GCEO |

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| |
|:---|
| **SELLER** |
| /s/ Amir Ahmed Abu Ghazaleh |
| Amir Ahmed Abu Ghazaleh |

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[*Signature Page to Agreement of Sale and Purchase*]