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The United International Transportation Company (Budget Saudi) announces the completion of the acquisition procedures for Al Jazeera Equipment Company Limited (AutoWorld)
4260
BUDGET SAUDI
1.86
%
1446/01/15 21/07/2024 08:02:24
| Element List | Explanation |
|---|---|
| Introduction | The United International Transportation Company (“Budget Saudi”) announces the completion of the acquisition procedures of the entire shares of Al-Jazeera Equipment Company (“AutoWorld”) through its subsidiary Al Jozoor Al Rasekha Trucking Company (fully owned by Budget Saudi). |
| Acquisition Procedures Conclusion Date | 2024-07-18 Corresponding to 1446-01-12 |
| Summary of Acquisition / Purchase | Completion of the acquisition procedures of the entire shares in AutoWorld, corresponding to three hundred thousand (300,000) ordinary shares, representing 100% of the capital of AutoWorld, in exchange for the issuance of new shares in Budget Saudi to the selling shareholder of AutoWorld, whereby Budget Saudi capital will be increased from seven hundred eleven million six hundred sixty-six thousand six hundred eighty Saudi Riyals (SAR 711,666,680) to seven hundred eighty-one million six hundred sixty-six thousand six hundred eighty Saudi Riyals (SAR 781,666,680) through the issuance of seven million (7,000,000) ordinary shares, thus increasing the total number of Budget Saudi shares from seventy-one million one hundred sixty-six thousand, six hundred and sixty-eight (71,166,668) ordinary shares to seventy-eight million one hundred sixty-six thousand, six hundred and sixty-eight (78,166,668) ordinary shares, representing an increase of about 9.84%. |
| Related Parties | N/A |
| Financial Impact | The financial impact will be visible on the financial results starting from the third quarter of the fiscal year 2024 |
| Ownership and Legal Documents Transfer Conclusion Date | 12/01/1446 corresponding to 18/07/2024 |
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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Net Change 0.76 (+1.86%)
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