UNITED WIRE FACTORIES COMPANY 1443/03/18 Sun Oct 24, 2021 08:01:03
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| Element List | Explanation |
| Introduction | United Wire Factories Company announces the signing of a (non-binding) Memorandum of Understanding with Themar Food and Catering Company to potentially acquire a share in the ownership of Themar Food and Catering Company upon reaching a final agreement between the two parties. |
| Memorandum Signing Date | 2021-10-21 Corresponding to 1443-03-15 |
| Counterparty | Themar for Food and Catering Company (Limited Liability Company) |
| Memorandum Subject | Understanding to reach a final agreement for United Wire Factories Company to acquire a share of the ownership of Themar Food and catering Company. and this memorandum aims to determine the understanding about the initial mutual obligations and rights between the two parties regarding the acquisition process, so that the implementation will be in accordance with the proposals and understandings approved by the two parties. The two parties also agreed to determine the value of the final deal after completing the evaluation and due diligence work. |
| Memorandum Duration | This memorandum shall be effective from the date of its signature and for a period of (90) days, subject to renewal with the approval of both parties |
| Related Parties | There are no related parties |
| Financial Impact | The financial impact will be determined after the final evaluation is completed |
| Additional Information | This potential deal for comes as a strategic direction for the United Wire Factories Company that aims to diversify sources of income and maximize its profitability through its various investments. The Memorandum of Understanding is (non-binding) for both parties, and any significant developments regarding the Memorandum of Understanding or the proposed acquisition will be announced in due course. |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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ASLAK - United Wire Factories Company JSC published this content on 24 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2021 08:03:00 UTC.
