| 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
CEO of the Saudi Wire Union Company to CNBC Arabia: The company’s available infrastructure allows an increase in production capacity 30%
The CEO of the Saudi Wire Union, Nabil Al-Amir, said in an interview with CNBC Arabia that the results of... read more
United Wire Factories Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting – Reminder Announcement
Element ListExplanation Introduction The Board of Directors of the United Wire Factories Company is pleased to... read more
United Wire Factories Co. Announces the Deposit Date of Sums Resulting from Selling Fractional Stocks Following Decrease of the Company’s Capital in the Accounts of Eligible Shareholders
... read more
United Wire Factories Co. Announces the Date of Depositing the Compensation Amounts for the Written-off Shares Resulted from the Reduction of the Company’s Capital (that Exceeds the Company’s Need)
... read more
ASLAK CEO says no conflict between capital cut, expansions
Nabil Alamir, CEO of United Wires Factories Co. (Aslak), said the planned capital cut does not reflect contraction, stressing that... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
... read more
United Wire Factories Co. announces the formation of the Audit Committee
Element ListExplanationIntroduction United Wire Factories Co. (Aslak) announces the decision of the Board of Directors to form the Audit... read more
United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 185.7160.215.917217.7-14.699 Gross Profit (Loss) 16.928.3-40.28221.2-20.283 Operational Profit (Loss)... read more
United Wire Factories Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
Element... read more
United Wire Factories Company (ASLAK) Invites Its Shareholders To Attend the 14th Ordinary General Assembly Meeting (The First Meeting)
Element ListExplanation Introduction The Board of Directors of Union Wire Factories Company is pleased to invite... read more
