National Building and Marketing Co. Announces an update on The announcement of the National Buildings and Marketing Co regarding the signing of a memorandum of understanding with Ajeej Steel manufacturing Co.
Element List | Explanation |
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Introduction | Referring to the announcement made by National Building and Marketing Co. dated 30 November 2020 on Tadawul, regarding signing of a memorandum of understanding with Ajeej Steel manufacturing Co to acquire the full shares of the company's capital.
National Building and Marketing Co. would like to announce that today, on 08-03-2021 it has signed an agreement to acquire the full shares of the company's capital with an value of 180 million SR. This Transaction is in implementation of the company's strategies for growth and expansion, especially in light of the large and accelerating growth witnessed in the industrial sector. In line with the Kingdom's vision (2030) and the company’s believes in its role in supporting and empowering vital sectors, localizing industry, and supporting local production in general. |
Previous Announcement | The announcement of the National Buildings and Marketing Co regarding the signing of a memorandum of understanding with Ajeej Steel manufacturing Co. |
Date of Previous Announcement on Tadawul's Website | 2020-11-30 Corresponding to 1442-04-15 |
Percentage of fulfilled achievement | %90 |
Event's Expected Completion Date | 20-30-2021 |
Reasons for Exceeding the Announced End Date | Not applicable |
The costs associated with the event, and if they have changed or not with indication of the reasons. | The value of the acquisition is SAR 180 million |
Impact of the Delay on the Company's Financial Results | Not applicable |
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