Element List | Explanation |
---|---|
Introduction | United Wire Factories Co. Announces the signing of a (non-binding) Memorandum of Understanding with A-1 Fence DMCC Company (UAE) for the possible acquisition of a stake in A-1 Fence Arabia for industry (Foriegn Limited liability co.) its head office in Dammam – Saudi Arabia, (which is wholly owned by A-1 Fence DMCC) upon reaching a final agreement between the two parties |
Memorandum Signing Date | 2022-02-20 Corresponding to 1443-07-19 |
Counterparty | A-1 Fence DMCC (UAE) |
Memorandum Subject | Understanding to reach a final agreement for United Wire Factories Company to acquire a share of the ownership of A-1 Fence Arabia for industry Company (Foriegn Limited liability co.) , 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 (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 |
Related Posts
United Wire Factories Company announces the starting date of electronic voting on the 17th Extraordinary General Assembly meeting agenda (First Meeting) through means of modern technology
Element ListExplanationAnnouncement Detail United Wire Factories Company is pleased to announce to its esteemed shareholders the date of... read more
United Wire Factories Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
Element List
Explanation
Introduction
United Wire Factories company Board of Directors is pleased to announce the results of the14th Ordinary General... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
... 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 the Results of the Extraordinary General Assembly Meeting (First Meeting)
Element ListExplanation Introduction United Wire Factories company Board of Directors is pleased to announce the results... read more
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 its Annual Estimated Financial Results for the Period Ending on 2020-12-31
Element List
Current Year
Previous Year
%Change
Sales/Revenue
777.3
724.4
7.302
Gross Profit (Loss)
113.5
61.6
84.253
Operational Profit (Loss)
72.3
32.9
119.756
Net Profit (Loss) after Zakat and Tax
62.1
22.1
180.995
Total Comprehensive Income
61.7
23.2
165.948
Total... read more
United Wire Factories Co. announces its Annual Financial results for the period ending on 2023-12-31
Element ListCurrent YearPrevious Year%ChangeSales/Revenue 792.81,026.4-22.76 Gross Profit (Loss) 64.1107.3-40.26 Operational Profit (Loss) 26.267.2-61.01 Net profit (Loss)... read more
United Wire Factories Co. Invites Its Shareholders to Attend the Extraordinary General Assembly Meeting the Sixteenth (First Meeting) Through Means of Modern Technology
... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 298.8226.631.862291.32.574 Gross Profit (Loss) 3828.135.23119.594.871 Operational Profit (Loss)... read more