| Element List |
Explanation |
| Introduction |
Regarding to Saudi Industrial Services Company “SISCO” announcement on 01/27/2021 AD regarding the agreement of the Public Investment Fund (“PIF”) And COSCO Shipping Ports Limited (“CSPL”) To Acquire Strategic Minority Equity Stake In Red Sea Gateway Terminal Limited (“RSGT”), A Sisco Subsidiary. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website |
2021-01-27 Corresponding to 1442-06-14 |
| URL of the Previous Announcement |
Click Here |
| Change on the Development |
The Saudi Industrial Services Company would like to clarify to the shareholders that SISCO`s direct and indirect share in the Red Sea Gateway Terminal Company before finalizing the agreement is 60.6% and after is 36.36% |
| Financial Impact on the change |
The financial impact will be reflected before end of 2021. |
| Additional Information |
Regarding the investment plan after receiving the proceeds on completion of the transaction, The Board of Directors through the Investment Committee will study several options to utilize the proceeds from the transaction, with the ultimate objective of maximizing shareholders returns. The Company will announce about any resolution on due time. |
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