United Wire Factories : اعلان شركة إتحاد مصانع الأسلاك عن توقيع مذكرة تفاهم مع شركة ثمار للتغذية و الإعاش
October 24, 2021 at 09:04 am
Share
A1301 ASLAK-0.1 (-0.27 %) 1443/03/18 Sun Oct 24, 2021 08:01:03
United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company (Limited Liability Company)
Share this: Facebook TwitterLinkedIn
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.
Attachments
Original document
Permalink
Disclaimer
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.
United Wire Factories Co JSC (Aslak) is a Saudi Arabia-based joint stock company that is engaged in the manufactures and marketing products related to construction and building materials sector, such as reinforcement steel bars, concrete welded mesh, block (ladder) mesh, common nails, chain link fence, barbed wires and tie-wires, as well as to the Civil Sector, such as black annealed baling wires, galvanized & polyvinyl chloride (PVC) coated cloth hangers, bed mesh, staples. The Company operates through its head office and a network of eight branches located across the Kingdom of Saudi Arabia. As of February 12, 2013, Mr. Khalid Saed Abdul Rahman Al Kanhal held 9.2%-stake in the Companyâs capital.