2340 · 23/12/2025 08:27:54 · Announcement #92200 · View on Saudi Exchange

Artex Industrial Investment Company Announces the Latest Developments Regarding the Memorandum of Understanding Entered into by the Shareholders of an Investee Company (Al-Reef Sugar Refinery Company) for the Acquisition by Ethraa Holding Company

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With reference to Artex Industrial Investment Company’s announcement published on the Saudi Exchange (Tadawul) dated 02-11-2025, regarding the extension of the Memorandum of Understanding entered into between the shareholders of Al-Reef Sugar Refinery Company and Ethraa Holding Company until 31 January 2026, based on Ethraa Holding Company’s request to complete the requirements of the Saudi Industrial Development Fund and other relevant authorities to finalize the transaction.

Artex Industrial Investment Company announces that on 22 December 2025, a Termination (Rescission) Agreement of the Memorandum of Understanding was executed between Al-Reef Sugar Refinery Company and Ethraa Holding Company, due to the non-fulfillment of the conditions required to complete the acquisition transaction, in accordance with the provisions of the Memorandum of Understanding, without any financial or legal obligations on either party. Previous Announcement Artex Industrial Investment Company’s announcement regarding the latest developments related to the signing of a Memorandum of Understanding by the shareholders of one of its investee companies (Al-Reef Sugar Refinery Company) for the acquisition by Ethraa Holding Company. Date of Previous Announcement on Saudi Exchange’s Website 2025-11-02 Corresponding to 1447-05-11 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event Termination of the Memorandum of Understanding (MoU) between Al-Reef Sugar Refinery Company and Ethraa Holding Company, due to failure to meet the requirements related to the acquisition process, without imposing any financial or legal obligations on either party. The costs associated with the event, and if they have changed or not with indication of the reasons. None Additional Information Al-Reef Sugar Company is currently undergoing a financial restructuring procedure, pursuant to a judicial ruling issued by the competent court on 10-11-2025, and under the supervision of the Trustee of the procedure, and the scope of the procedure includes the debtor and guarantors according to the judgment, which results in the suspension of claims on the company and its guarantors for up to 180 days from the date of the start of the procedure, in accordance with the Bankruptcy Law.

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