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United Electronics Company (eXtra) announces the signing of a commercial alliance with Panda Retail Company (Panda), whereby eXtra will manage the Electronics and Home Appliances Sector in Panda stores
| Element List | Explanation |
|---|---|
| Introduction | Reference to United Electronics Company (eXtra) announcement dated 25-01-2023 (03-07-1444H) regarding its strategic understanding with Panda Retail Company (Panda), whereby eXtra will manage the Electronics and Home Appliances Sector in Panda stores, United Electronics Company (eXtra) announces that today, Tuesday, December 5, 2023, a ten-year commercial alliance was signed with Panda Retail Company (Panda), whereby eXtra will manage the Electronics and Home Appliances Sector in Panda stores, under the brand name "Clix". The financial impact of this partnership is expected to begin in the first quarter of 2024 |
| Previous Announcement | United Electronics Company (Extra) announces that it reaches a strategic understanding with Panda Retail Company (“Panda”) |
| Date of Previous Announcement on Tadawul's Website | 2023-01-25 Corresponding to 1444-07-03 |
| Percentage of fulfilled achievement | NA |
| Event's Expected Completion Date | NA |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | NA |
| Additional Information | Both eXtra and Panda are seeking to build a strategic cooperation between both companies over the medium and long term, that supported by eXtra's vast experience in leading the consumer electronics sector. In addition to the regional foothold & wide customer base of Panda, as the largest retail chain in kingdom, which will contribute to offer unparallel customer experience for both companies’ clients in the Kingdom of Saudi Arabia. This cooperation comes to Strengthen eXtra’s strategy in reaching a wider customer base across the kingdom. |
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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