| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of the Saudi Industrial Export Company (SADIRAT) published on the Tadawul website on 06/29/1446 AH corresponding to 12/30/2024 AD, regarding the latest developments regarding the extension of the fund establishment agreement by the subsidiary, Haddaj Investment Company, for an additional three months under the same terms and conditions, so that it ends on April 3, 2025 AD, with the possibility of extension pursuant to a written agreement between the parties, with Faad Financial Partners Company and Nama Chemicals Company to acquire a stake in (Jana), one of the subsidiaries of Nama Chemicals Company. |
Saudi Industrial Export Company (SADIRAT) announces to its shareholders the latest developments in this regard.
• Acquiring a stake equivalent to 40% of the value of Jubail Chemical Industries Company (Jana) shares in exchange for a cash injection representing an increase in the target company’s capital of approximately 200 million riyals through a private equity fund, with the fund’s share being 40% of the value of Jana’s share.
• The offer is non-binding, non-final and is subject to further negotiations and final results until reaching the final agreement and approvals of the relevant legislative and general assembly authorities.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.