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Saudi Public Transport Co. Announces an update regarding signed a memorandum of understanding with NEX Continental Holdings
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of the Saudi Public Transport Company “SAPTCO” on Tadawul’s website on (18/06/1444H) corresponding to ( 11/01/2023G) that it has signed a memorandum of understanding with NEX Continental Holdings. And with Reference to the announcement of the Saudi Public Transport Company “SAPTCO” on Tadawul’s website on (24/07/1444H) corresponding to ( 15/02/2023G) that latest updates regarding the concession contract with the Government, in which SAPTCO and NEX Continental Holdings consortium won the intercity concession to transport passengers by buses in the southern region with the Transport General Authority. The Saudi Public Transport Company “SAPTCO” announces that on (26/02/1445H) corresponding to ( 11/09/2023G) the completion of issuance of the Memorandum of Association and the Commercial Registration under the name of (SAT Transport), a limited liability company, with a capital of (10,000,000 SR) the joint venture percentage will be 85% for SAPTCO, and 15% for NEX Continental Holdings. |
| Previous Announcement | The Saudi Public Transport Company – SAPTCO has signed a memorandum of understanding with NEX Continental Holdings |
| Date of Previous Announcement on Tadawul's Website | 2023-01-11 Corresponding to 1444-06-18 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Additional Information | The partnership comes from SAPTCO’s vision to achieve its growth and expansion strategy and maximize its assets in order to achieve the highest levels of growth and the best financial returns for its shareholders. |
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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