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Taqat Mineral Trading Co. Announces the Execution of Memorandum of Understanding with Company Statement Transport Trading Acquiring 100% of Company Statement Transport Trading
| Element List | Explanation |
|---|---|
| Introduction | TAQAT Mineral Trading Company announces that it has signed a (non-binding) memorandum of understanding to acquire 100% of Company Statement Transport Trading. Company Statement Transport Trading (Limited Liability Company); Registered with the Ministry of Commerce under Commercial Registry No. (1011020957) and dated (02/23/1435). Its address: Al-Kharj City, Al-Salam District, Abu Djuana Street, postal code (16278), and it works in the field of waste and scrap. |
| Date of signing the Memorandum of Understanding | 2024-05-01 Corresponding to 1445-10-22 |
| Memorandum Duration | 4 Months |
| Name of the Counterparty | Company Statement Transport Trading |
| Name of Financial Advisor of Each Party | it is not determined yet. |
| Major Terms in the Memorandum | Initiating the fruitful negotiation process and conducting the necessary reviews regarding the possibility of the TAQAT Mineral Trading Company acquiring Company Statement Transport Trading by (100%) and determining possible ways and mechanisms to achieve this, as the two parties must, upon the success of the negotiations, implement a final acquisition agreement binding on both parties before the date of 01/09. / 2024, and if the two parties wish to renew this period, this will be done through agreement between the two parties on the renewed period through an appendix to this memorandum, provided that it is written and signed by both parties. In the event that the two parties are unable to reach any agreement during the negotiation period, the memorandum of understanding will end. Without this memorandum entailing any financial or legal obligation on either party, or any obligations towards each other, except for cases of fraud and serious error that may occur from either party towards the other party, signing this memorandum does not mean in any way a guarantee or obligation. Either party may complete the acquisition process subject to this memorandum. |
| Related Parties | There are no related parties |
| Actions to be Taken by the Company during the Memorandum’s Duration | Initiating the fruitful negotiation process and conducting due diligence financial and legal examinations regarding the possibility of TAQAT Mineral Trading Company acquiring 100% of the ownership of Company Statement Transport Trading and determining possible ways to achieve this. |
| Approvals | If we proceed, this proposed acquisition will be subject to obtaining the necessary regulatory approvals. |
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 13.9
Net Change -0.04 (-0.29%)
Value Traded (Sar) 217,888.2
Volume Traded 15,706
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