Saudi Advanced Industries Co. — M&A Activity 2024

Aug 29, 2024

Saudi Advanced Industries Co. Announces an update on Saudi Advanced Industries Company announces the signing of a non-binding Memorandum of Understanding with Dar Al-Balad Business Solutions Company to acquire up to 100% of the company’s shares

2120 · 29/08/2024 15:57:51 · Announcement #82316 · View on Saudi Exchange

Saudi Advanced Industries Co. Announces an update on Saudi Advanced Industries Company announces the signing of a non-binding Memorandum of Understanding with Dar Al-Balad Business Solutions Company to acquire up to 100% of the company’s shares

Element List	Explanation
Introduction	In reference to the announcement made by Saudi Advanced Industries Company, published on the Saudi Tadawul website on 27/11/1445 AH corresponding to 04/06/2024 AD, regarding the signing of a non-binding Memorandum of Understanding with Dar Al-Balad Business Solutions to acquire up to 100% of the company's shares.

The company announces the termination of the memorandum of understanding without reaching an agreement between the two parties and without any obligation on either party. Previous Announcement Saudi Advanced Industries Company announces the signing of a non-binding Memorandum of Understanding with Dar Al-Balad Business Solutions Company to acquire up to 100% of the company’s shares Date of Previous Announcement on Saudi Exchange’s Website 2024-06-04 Corresponding to 1445-11-27 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event Termination of the Memorandum of Understanding without reaching an agreement between the parties and without any obligations on either party The costs associated with the event, and if they have changed or not with indication of the reasons. NA

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.