| Element List | Explanation |
|---|---|
| Announcement Detail | Our Associate DAR Global PLC (Dar Global) is a publically listed entity in London Stock Exchange (LSE). Dar Global board identified that Saudi is a very important market for their sustainable growth and announced their intention to enter Saudi market about a year ago, accordingly; Dar Global shall explore new project opportunities, acquisitions and joint ventures as key expansion plans in Saudi markets; Dar Global appointed Rothschild & Co (Consultant) to explore and advise on these matters ; As requested; the Company will assist Dar Global and their Consultant in facilitating acquisitions and joint ventures in the Saudi market |
The Company is making this announcement in continuation with Dar Global announcement on 21 August 2024 and for the time being; the Company board is not expecting any financial obligations in connection with the facilitation of potential transaction that may accepted by Dar Global. The Company shall update further details once any arrangements are agreed between the parties.
The move is part of Dar Global’s strategic plan to expand its presence in the international markets.
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.