| Element List | Explanation |
|---|---|
| Introduction | With reference to the company's announcement on 23-01-2024G, about the signing of a memorandum of understanding with the Korean company E Green Global (EGG) to transfer the technology of potato seed production and to be produced locally in the Kingdom of Saudi Arabia and the company's announcement on 21-07-2024G regarding the extension of the memorandum, and the company's announcement on 21-01-2025G regarding the extension of the memorandum for an additional period of 60 Days. |
The company would like to announce to its valued shareholders signing a partnership agreement with the Korean company Global Green EGG to establish a partnership between the two companies in the production of high-quality potato seeds using the latest advanced technologies around the world, and the company would like to indicate that the agreement includes the following:
- Establishing a specialized laboratory with high technical specifications at the headquarters of Al-Jouf Agricultural Development Company at Busaita district at Aljouf district for the production of potato seeds.
- Investing in the Korean company EGG through bonds convertible into equity in the amount of (15,000,000) Saudi riyals.
- Production is expected to start locally during the second quarter of 2026 hopefully, and the financial impact will be announced later.
E Green Global Co., Ltd. was established in 2009 as a seed company specializing in the production and supply of high-quality (disease- and virus-free) potato seeds by establishing a self-developed plant factory system by achieving low-cost mass production of high-quality potato seeds, and the company provides comprehensive solutions for potato seed production and potato production domestically and internationally.
- Establishing a specialized laboratory with high technical specifications at the headquarters of Al-Jouf Agricultural Development Company at Busaita district at Aljouf district for the production of potato seeds.
- Investing in the Korean company EGG through bonds convertible into equity in the amount of (15,000,000) Saudi riyals.
- Production is expected to start locally during the second quarter of 2026 hopefully, and the financial impact will be announced later.
E Green Global Co., Ltd. was established in 2009 as a seed company specializing in the production and supply of high-quality (disease- and virus-free) potato seeds by establishing a self-developed plant factory system by achieving low-cost mass production of high-quality potato seeds, and the company provides comprehensive solutions for potato seed production and potato production domestically and internationally.
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.