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SABIC Agri-Nutrients Co. announces the latest developments on its binding agreement to acquire (49%) in share capital of ETG Inputs Holdco LTD.
| Element List | Explanation |
|---|---|
| Introduction | SABIC Agri-Nutrients Co.’s (the “Company”) previous announcement on Tadawul dated 21-06-1443G corresponding to 24-01-2022G confirmed the signing of a binding agreement to acquire (49%) in the share capital of ETG Inputs Holdco LTD (“SPA”) on 21-06-1443H corresponding to 24-01-2022.The same announcement also provided that the Company expects that the financial impact of the transaction will appear during the second half of the fiscal year ending on 31-12-2022. Accordingly, the Company would like to announce to its shareholders that it is working on obtaining the required regulatory approvals to complete the transaction in accordance with terms and conditions of the SPA and it is expected that the financial impact of the transaction will appear during the first [half] of the fiscal year ending on 31-12-2023. The Company will publish an announcement on TADAWUL regarding the completion of the transaction at that time. |
| Previous Announcement | SABIC Agri-Nutrients Co. announces the signing of a binding agreement to acquire (49%) in share capital of ETG Inputs Holdco LTD. |
| Date of Previous Announcement on Tadawul's Website | 2022-01-24 Corresponding to 1443-06-21 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | The first [half] of the fiscal year ending on 31-12-2023G |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | No material financial impact |
| Additional Information | The financial impact of the transaction will appear in financial results of the first half of the fiscal year ending on 31-12-2023G. The Company will publish an announcement on TADAWUL regarding the completion of the transaction at that time. |
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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