| Element List | Explanation |
|---|---|
| Introduction | United Wire Factories Company Announces the signing of a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Company To potentially acquire a share in the company’s ownership upon reaching a final agreement between the two parties |
| Memorandum Signing Date | 2023-11-13 Corresponding to 1445-04-29 |
| Counterparty | ALRAEDA INDUSTRIAL INVESTMENT Company |
| Memorandum Subject | Understanding to reach a final agreement for United Wire Factories Company to acquire a share of the ALRAEDA INDUSTRIAL INVESTMENT 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 audit |
| Memorandum Duration | This memorandum shall be effective from the date of its signature and for a period of (180) 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 comes as a strategic direction for United Wire Factories Company, which aims to diversify its sources of income and maximize its profitability through diversified investments, and any fundamental developments will be announced later |
Related Posts
Addendum Announcement from United Wire Factories Co. in regards to extension of the candidacy period for membership of the Board of Directors for the 5th session
Element ListExplanation Introduction Further to United Wire Factories Co announcement dated 06-12-2021 corresponding to 02-05-1443H regarding... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company
Element ListExplanation Introduction Further to the announcement of the United Wire Factories Co. on October 21,... read more
United Wire Factories Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the (First Meeting)
Element List
Explanation
Introduction
The Board of Directors of United Wire Factories Co. is pleased to invite the valued shareholders to... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company
Element ListExplanation Introduction Further to the announcement of the United Wire Factories Co. on October 24,... read more
Addendum Announcement from United Wire Factories Co. in regards to extending the nomination period for Board of Directors membership for the upcoming term
Element List
Explanation
Introduction
reference to the United Wire Factories Company (Aslak) announcement dated 08-12-2024G corresponding to 07-06-1446H regarding the opening... read more
United Wire Factories Co. Announces the Submission of the Decrease of the Company’s Capital Application File to CMA
ELEMENT LIST
EXPLANATION
Introduction
No English translation, kindly refer to the Arabic version
Date of Submitting the Application File to CMA
2020-03-10 Corresponding to 1441-07-15
Application... read more
United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.
Element ListExplanation Introduction In addition to the announcement by the United Wire Factories Company of signing... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )
Element List
Current Quarter
Similar quarter for previous year
%Change
Previous Quarter
% Change
Sales/Revenue
226.6
220.4
2.813
202.8
11.735
Gross Profit (Loss)
28.1
33.5
-16.119
29.8
-5.704
Operational Profit (Loss)
18.6
17.3
7.514
19.2
-3.124
Net Profit... read more
The CEO of the Saudi Wire Union, Nabil Al-Amir, told CNBC Arabia: The increase in profits for the first half of 2022 is due to the growth in sales volumes and high profit margins
https://www.cnbcarabia.com/videos_pickup/aslak_video.mp4
In an interview with CNBC Arabia, CEO of the Saudi Wire Union, Nabil Al-Amir, indicated that the reasons behind the... read more
United Wire Factories Co. announces its board of directors’ decision to appoint the board’s chairman and vice-chairman and to form committees
Element ListExplanationAnnouncement Detail Reference to the meeting of the Fourteenth Ordinary General Assembly held on Tuesday 28/07/1443 AH... read more
