| Element List | Explanation |
|---|---|
| Announcement Detail | Following the announcement by BinDawood Holding Company (the “Company”) on the Saudi Exchange dated 24/8/1443H corresponding to 27/3/2022G in connection with the Company’s fully owned subsidiary Future Retail for Information Technology Company (the “Buyer”) acquiring a stake in International Applications Trading Company (“IATC”) representing 62% of IATC’s share capital (the “Transaction”), pursuant to a sale and purchase agreement (the “Agreement”), Therefore, the Company is pleased to announce the issuance by the General Authority for Competition (“GAC”) of its non-objection with reference to its decision number 269 dated 07/11/1443H Corresponding to 06/06/2022G with respect to the Transaction. |
It should be noted that the Transaction is subject to other customary completion conditions, which are in process of being satisfied, in accordance with the terms of the Agreement.
The Company will announce any material developments in this regard.
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.