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The National Agricultural Development Company (NADEC) announces the signing of a memorandum of understanding with United Feeds Company to explore cooperation in establishing a livestock project specializing in (Sheep and Goats)
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NADEC
2.11
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1445/01/16 03/08/2023 08:39:42
| Element List | Explanation |
|---|---|
| Introduction | The National Agricultural Development Company (NADEC) announces to its valued shareholders that it has signed a memorandum of understanding with the United Feeds Company (a limited liability company - specialized in the field of purchasing, processing, storing, packaging and distributing grain and barley products for animal feed use) in order to explore cooperation in establishing a livestock project specializing in (Sheep and Goats). |
| Memorandum Signing Date | 2023-08-02 Corresponding to 1445-01-15 |
| Counterparty | United Feeds Company |
| Memorandum Subject | The memorandum of understanding sets a general framework for joint cooperation between the two parties to conduct studies and evaluations of livestock breeding markets in the (Sheep and Goats) sector at both local and regional levels. The objective is to develop a strategic road map utilizing the latest technologies for intensive breeding and sector organization by applying global best practices. This collaboration aims to contribute to livestock development and enhance food security in the Kingdom of Saudi Arabia. Additionally, the parties aim to establish high-tech farms to ensure sustainability and product availability while maintaining the highest product quality standards for consumers and providing appropriate choices. |
| Memorandum Duration | One year |
| Related Parties | N/A |
| Financial Impact | Substantial developments in this regard will be announced in due course, and the financial impact will be determined later. |
| Additional Information | In case of any inquiries, please contact with the department of Investor Relations on: Telephone No: 0112027830 Email: IR@nadec.com.sa |
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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Last Price 31.5
Net Change 0.65 (+2.11%)
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