Addendum Announcement from Saudi Vitrified Clay Pipe Co. in regards to Signing a sale and purchase agreement with the owners of Saudi Land Factory for Cement Products to acquire all their ownership shares
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement published on the Tadawul website on 25/07/1445H (corresponding to 06/02/2024G) by the Saudi Vitrified Clay Pipe Co. regarding the signing of a sale and purchase agreement with the owners of Saudi Land Factory for Cement Products to acquire all their ownership shares.
Saudi Vitrified Clay Pipe Co. announces the completion of the procedures for the acquisition of the entire share capital in the Saudi Land Factory for Cement Products |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-02-06 Corresponding to 1445-07-25 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The procedures for the acquisition of the entire share capital of Saudi Land Factory for Cement Products have been completed after fulfilling the preconditions contained in the sale and purchase agreement, including obtaining approvals from the relevant authorities.
The acquisition amount of 25 million was paid from the resources of the Saudi Vitrified Clay Pipe Co. |
| Financial Impact on the change | The financial impact of the transaction will be visible in the financial results as of the first quarter of fiscal year 2024. |
| Additional Information | NA |
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