The United Wire Factories Co. announces the latest developments regarding its previous announcement of signing a memorandum of understanding with A-1 Fence DMCC (UAE)

Element List	Explanation
Introduction	Further to the announcement of the United Wire Factories Company (the “Company”) on October 30, 2022 of the completion of the work to obtain regulatory approvals and the completion of the terms of the share purchase agreement signed with A One Fence DMCC (UAE) to acquire 30% of the capital of A Company One Fence Arabia for Industry; The company is pleased to announce the issuance of the General Authority for Competition’s non-objection to the economic concentration process, and thus the company will work to complete the agreement by paying its share in the capital of A One Fence DMCC in the amount of (281,400) (two hundred and eighty one thousand and four hundred Saudi riyals) during the quarter the second for 2023
Previous Announcement	The United Wire Factories Co. announces the latest developments regarding its previous announcement of signing a memorandum of understanding with A-1 Fence DMCC (UAE) for the possible acquisition of a stake in the ownership of A-1 Fence Arabia Company for Industry (a foreign limited company) wholly owned by A-1 Fence DMCC (UAE)
Date of Previous Announcement on Tadawul’s Website	2022-10-30 Corresponding to 1444-04-05
Percentage of fulfilled achievement	Work is underway to complete the legal procedures
Event’s Expected Completion Date	The second quarter of 2023
Reasons for Exceeding the Announced End Date	not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons.	not applicable
Impact of the Delay on the Company’s Financial Results	not applicable
Additional Information	There are no related parties regarding the agreement mentioned in the announce

The United Wire Factories Co. announces the latest developments regarding its previous announcement of signing a memorandum of understanding with A-1 Fence DMCC (UAE)

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