BinDawood Holding —
BinDawood Holding Company announces an update on the company's announcement regarding the signing of a sale purchase agreement to acquire Jumairah Trading Company by the issuance of the non-objection certificate from the General Authority for Competition.
| Element List | Explanation |
|---|---|
| Introduction | Reference to BinDawood Holding Company’s announcement published on 23/05/2024G corresponding to 15/11/1445H regarding the acquisition of 100% of the shares of Jumairah Trading Company with a total transaction of SAR 186.5 million. Accordingly, the company is pleased to announce that it has obtained a non-Objection Certificate with respect to the completion of the economic concentration transaction relating to the Acquisition of Jumairah Trading Company on 07/07/2024G corresponding to 01/01/1446H. |
| Previous Announcement | BinDawood Holding Company announces the signing of Share Purchase Agreement for the acquisition of 100% of the shares in Jumairah Trading Company in the value of SAR 186.5 million. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-05-23 Corresponding to 1445-11-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The issuance of the General Authority for Competition non-objection certificate with respect to the completion of the economic concentration transaction through the Company’s acquisition of 100% of the share capital of Jumairah Trading Company. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The company is investing an amount of SAR 186.5 million by acquiring 100% of the shares of Jumairah Trading Company. |
| Delay consequences on the Company’s financial results | Not Applicable |
| Additional Information | The Company will announce the completion of the Transaction or any other material development(s) in due course. |
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.
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