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Almunajem Foods Co. announces the signing of a share purchase agreement with substantial shareholders in Balady Poultry Trading Company
4162
ALMUNAJEM
5.26
%
1445/10/21 30/04/2024 08:09:30
| Element List | Explanation |
|---|---|
| Introduction | Introduction With reference to the announcement of Almunajem Foods Co. (the “Company”) on Tadawul’s website on 25/08/1445H (corresponding to 06/03/2024G) that the Company has signed a share purchase agreement with existing shareholders in Balady Poultry Trading Company (“Balady Company”), the Company announces the signing of a binding share purchase agreement on 20/10/1445H (corresponding to 29/04/2024G), in accordance with which the Company will purchase 1,511,100 shares (representing 23% of Balady Company's shares) from substantial shareholders in Balady Company (the “Sale Shares”) at a purchase price of SAR 120 per share, with a total value of SAR 181,332,000 (the “Share Purchase Agreement”) (the "Transaction"). The Share Purchase Agreement is subject to a number of pre-closing conditions, and the Company will implement the Transaction after obtaining the necessary approvals from the relevant authorities, including the General Authority for competition. Upon completion of the Transaction, the ownership of the Company will represent 40% of the total Balady Company's shares. The Transaction will be partially self-financed by the Company and partially funded by external sources. |
| Previous Announcement | Almunajem Foods Co. announces the signing of a share purchase agreement with existing shareholders in Balady Poultry Trading Company. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-03-06 Corresponding to 1445-08-25 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Signing a binding share purchase agreement with substantial shareholders in Balady Company. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Additional Information | The Company will announce any material developments regarding the Transaction, in accordance with the relevant laws and instructions. In the meantime, the Company intends to continue carrying on its business as usual until the completion of the Transaction. |
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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Last Price 112.0
Net Change 5.6 (+5.26%)
Value Traded (Sar) 40,891,366.2
Volume Traded 371,128
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