United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.

Element List	Explanation
Introduction	In addition to the announcement by the United Wire Factories Company of signing a memorandum of understanding on 13 November 2023 with Al-Raeda Industrial Investment Company for the potential acquisition of a share in the ownership of the company upon reaching a final agreement between the two parties, and since the announcement indicates the expiry of the duration of the memorandum after (180) days from the date of signing, subject to extend by agreement of the two parties, the company announces its agreement with Al-Raeda Industrial Investment Company to extend the memorandum according to an annex to the memorandum of understanding for a period of (180) days, which can be extended according to a written agreement between the two parties.
Previous Announcement	United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.
Date of Previous Announcement on Saudi Exchange’s Website	2023-11-14 Corresponding to 1445-04-30
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	extend the memorandum according to an annex to the memorandum of understanding for a period of (180) days, which can be extended according to a written agreement between the two parties.
The costs associated with the event, and if they have changed or not with indication of the reasons.	N/A
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

United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.

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