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Addendum Announcement from Takween Advanced Industries Co. in regard to the announcement of the annual financial results ending on 12-31-2023.
| Element List | Explanation |
|---|---|
| Introduction | In reference to Takween Advanced Industries’ announcement of the annual financial results ending on 12-31-2023 on the date of 03/28/2024 AD corresponding to 09/18/1445 AH, the company would like to clarify the measures that the company has taken regarding its losses reaching 42%. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-03-28 Corresponding to 1445-09-18 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Takween Advanced Industries Company announced the annual financial results ending on 12-31-2023 on 03/28/2024 AD, corresponding to 09/18/1445 AH, indicating that the company’s accumulated losses amounted to 42% of the capital. In this regard, the company would like to clarify that it had taken the necessary measures to address these losses by increasing the company’s capital by 300 million Saudi riyals, which was approved by the General Assembly on 02/13/2024, and its results were announced on the Tadawul website on 02/14/ 2024. |
| Financial Impact on the change | N/A |
| Additional Information | The company’s accumulated losses reaching 42% are due to calculating these losses based on the company’s capital at the end of the year 2023 and before the extraordinary general assembly approved the capital increase by 300 million Saudi riyals. The company had previously announced in the prospectus regarding the capital increase its strategic plans and operational, technical, and administrative restructuring to emerge from the stage of losses. |
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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