| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement of the United Wire Factories Co. (the “Company”) that it has signed a (non-binding) Memorandum of Understanding on February 20, 2022 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) and wholly owned by A-1 Fence DMCC (UAE), and its announcement on May 19, 2022 AD, of the extension of the memorandum under an appendix to the memorandum of understanding for a period of (90) ninety days, subject to extension under a written agreement between the two parties,The company is pleased to announce the signing of a Share Purchase Agreement to acquire 30% of the capital of A-1 Fence Arabia for Industry. The agreement is subject to the approval of the General Authority for Competition and other relevant regulatory bodies for its completion |
| 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 | 2022-05-19 Corresponding to 1443-10-18 |
| Percentage of fulfilled achievement | The Share Purchase Agreement was signed on August 18, 2022, provided that the agreement is subject to a number of conditions that must be met on October 30, 2022 as a maximum |
| Event’s Expected Completion Date | 05-04-1444 AH Corresponding to 10-30-2022 AD |
| 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 |
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