|Further to the announcement of the United Wire Factories Company (the “Company”) on March 8, 2023, regarding the issuance of a no-objection by the General Authority for Competition regarding the economic concentration process and working to complete the regulatory approvals and fulfill the terms of the share purchase agreement signed with DMCC Company (UAE) to acquire a percentage 30% of the capital of A-1 Fence Arab Industrial Company; The company is pleased to announce to its esteemed shareholders the completion of the acquisition deal and the transfer of the acquired shares to the company as of October 2, 2023, for an amount of (281,400) (two hundred and eighty-one thousand and four hundred Saudi riyals).
|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
|2023-03-08 Corresponding to 1444-08-16
|Percentage of fulfilled achievement
|Event’s Expected Completion Date
|Reasons for Exceeding the Announced End Date
|The end date of the event has been extended to fulfill all the conditions of the share purchase agreement with the relevant regulatory authorities
|The costs associated with the event, and if they have changed or not with indication of the reasons.
|Impact of the Delay on the Company’s Financial Results
|There are no related parties regarding the agreement mentioned in the announce
The post on Saudi Exchange Website