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
United Wire Factories Co. Announces Board’s Recommendation to Decrease the Company’s Capital
ELEMENT LIST
EXPLANATION
Date of Board Meeting
2020-01-13 Corresponding to 1441-05-18
Capital before decrease
No English translation, kindly refer to the Arabic version
Capital after decrease
No... 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
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 ListExplanation Introduction Further to the announcement of the United Wire Factories Company (the “Company”) on... read more
United Wire Factories Company announces the starting date of electronic voting on the 15th Ordinary General Assembly Meeting agenda (First Meeting) through means of modern technology
Element ListExplanationAnnouncement Detail United Wire Factories Company is pleased to announce to its valued shareholders the start date... read more
ASLAK’s CEO Interview with CNBC Arabia regrading the process of reducing the company’s capital
https://unitedwires.com.sa/wp-content/uploads/2023/08/CNBC03082023.mp4 read more
An addendum announcement from the United Wire Factories Company regarding its previous announcement inviting its shareholders to attend the 16th Extraordinary General Assembly Meeting (the first meeting)
Element ListExplanation Introduction A reference to the company's announcement containing the invitation to attend the sixteenth... read more
United Wire Factories Co. Announces the Start of the Creditors’ Objection Period Related to the Company’s Capital Reduction (that exceeds the Company’s need)
... read more
United Wire Factories Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
Element... read more
The CEO of the Saudi Wire Union, Nabil Al-Amir, told CNBC Arabia: The increase in profits for the first half of 2022 is due to the growth in sales volumes and high profit margins
https://www.cnbcarabia.com/videos_pickup/aslak_video.mp4
In an interview with CNBC Arabia, CEO of the Saudi Wire Union, Nabil Al-Amir, indicated that the reasons behind the... read more
CEO of Saudi Wire Union Company to CNBC Arabia: The increase in value added boosted the company’s sales and increased profit margins
The CEO of the Saudi Wire Union, Nabil Al-Amir, told CNBC Arabia that the VAT increase last year resulted in... read more