Arabian Centres Co. Announces an update on the Acquisition of 25.5% of (VogaCloset) E-Commerce Platform

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Introduction	Reference to the announcement made by Arabian Centres Co. (“ACC”) on Tadawul on 19-07-1442 corresponding to 03-03-2021 regarding the signing of a Share Purchase Agreement (“SPA”) to acquire 39,253 ordinary shares in Vogacloset Limited for SAR 68.9 million, ACC announces the successful completion of the transfer of those shares from Vogaloset to ACC, representing 25.5% of Vogacloset’s share capital post its capital increase pursuant to the SPA.

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Explanation

Introduction

Reference to the announcement made by Arabian Centres Co. (“ACC”) on Tadawul on 19-07-1442 corresponding to 03-03-2021 regarding the signing of a Share Purchase Agreement (“SPA”) to acquire 39,253 ordinary shares in Vogacloset Limited for SAR 68.9 million, ACC announces the successful completion of the transfer of those shares from Vogaloset to ACC, representing 25.5% of Vogacloset’s share capital post its capital increase pursuant to the SPA.

Accordingly, ACC will transfer the acquired shares in Vogacloset to “FAS Labs”, a newly established Limited Liability Company for the purpose of leading joint digital initiatives for ACC and Fawaz Abdulaziz Alhokair & Co (“Alhokair”).

It’s worth mentioning that FAS Labs is equally owned by both ACC and Alhokair. Previous Announcement Arabian Centres Co. Announces the Acquisition of an E-Commerce Platform with a value of SAR 68.9 Million Date of Previous Announcement on Tadawul's Website 2020-03-03 Corresponding to 1441-07-08 Percentage of fulfilled achievement 100% Event's Expected Completion Date Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable Additional Information ACC will consolidate the investment in FAS Labs, which owns 51% of Vogacloset’s capital, into the Financial Statements under “Equity Accounted Investments” starting from Q3-FY2022.

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.