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Al Moammar Information Systems Co. Announces a Major development
| Element List | Explanation |
|---|---|
| Announcement Detail | Al Moammar Information Systems Company announces a major development, represented by the sale of 25% of its 40% stake in Edarat Communications and Information Technology Company for a value of SAR 61,490,835 in order to meet the requirements of Edarat Communications and Information Technology Company to transfer from the Parallel Market "Nomu" to the Main Market. Al Moammar Information Systems Company sold 126,000 shares of Edarat shares through private transactions at a price of SAR 488.02 per share, for a total amount of SAR 61,490,835. This transaction resulted in capital gains of SAR 57,587,719 The positive financial impact will appear in the first quarter of 2024. This transaction represents 25% of Al Moammar Information Systems Company's ownership in Edarat Company, which will then become 30% of Al Moammar Information Systems Company's ownership in Edarat Communications and Information Technology Company. There are no related parties involved in the sale. The company will announce any future related developments 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.
Share
Company Performance
Key Parameters
Last Price 146.8
Net Change 0.8 (+0.55%)
Value Traded (Sar) 20,590,994.6
Volume Traded 140,720
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