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Meyar Company announces the purchase of a factory
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MEYAR
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1445/02/27 12/09/2023 08:18:29
| Element List | Explanation |
|---|---|
| Introduction | Meyar Company announces the purchase of a factory north of Riyadh. |
| Transaction Details | The purchase of a cement and ready-mix concrete products factory north of the city of Riyadh, in the Malham Center in the Riyadh region, with a total value of 3,300,000 Saudi riyals, including VAT. |
| Transaction Value | 3,300,000 Saudi Riyals, including VAT. |
| Transaction Terms | Nothing. |
| Parties of the Transaction | Roads Field Est. Meyar Saudi joint stock company. |
| Transaction Funding Method | Company's own resources. |
| Transaction Execution Date | 2023-09-11 Corresponding to 1445-02-26 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | Cement products and ready-mixed concrete factory. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | none |
| Transaction reasons | Increasing production and expanding the target markets through selling in the city of Riyadh. |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact and its operations are expected to emerge during 2024. |
| Related Parties | none |
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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