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ActionsAddendum Announcement from Almunajem Foods Co. in regard to the latest development regarding the share purchase agreement with substantial shareholders in Balady Poultry Company
Element List | Explanation |
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Introduction | In accordance with Article (24/b) of the Merger and Acquisition Regulations and referring to the announcement of Almunajem Foods Co. (the “Company”) on Tadawul’s website dated 18/02/1446H (corresponding to 22/08/2024G) about the latest development regarding the share purchase agreement with substantial shareholders in Balady Poultry Company |
Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-08-22 Corresponding to 1446-02-18 |
Hyperlink to the Previous Announcement | Click Here |
Change on the Development | The share purchase transaction has been done between Almunajem foods Co. (The Buyer) and the following parties (The sellers): 1. Abdulrhman Saad AlShahrani 2. Hessah Saif AlShahrani 3. Turki Abdullah AlShahrani 4. Muhammed Abdullah AlAoashez 5. Abdulrhman Ali Al-Mohi After the transaction was completed, Almunajem’s ownership increased from 17% to 40% of the total shares of Balady Poultry Company. The acquisition aligns with Almunajem Foods Company’s strategy and future plans to drive sustainable growth and increase local content, Almunajem Foods will provide support at the commercial, marketing, logistics, and technical levels in order to enhance the value of Balady’s products in Saudi market. |
Financial Impact on the change | N/A |
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.