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Nofoth Food Products Company announces the acquisition of the trademark "Maqsoud Restaurants" as part of its expansion plan for a value of 3.7 million SAR.
9556
NOFOTH
0.45
%
1446/05/24 26/11/2024 08:01:15
| Element List | Explanation |
|---|---|
| Introduction | Referring to Nofoth Food Products Company's announcement on 30/10/2024 regarding the signing of a non-binding memorandum of understanding to acquire the "Maqsoud Restaurants" trademark, the company announces the signing of the final agreement to acquire the "Maqsoud Restaurants" trademark from Maqsoud Restaurants Establishment in the Kingdom of Saudi Arabia, for a total value of SAR 3,700,000. |
| Transaction Details | The deal includes the acquisition of the "Maqsoud Restaurants" trademark, in addition to the movable assets and properties of two branches of the establishment in Riyadh, for a total value of SAR 3,700,000. |
| Transaction Amount | 3,700,000 |
| Transaction Conditions | There are no special conditions for this deal. |
| Parties of the Transaction | Nofoth Food Products Company (the "Buyer") Maqsoud Restaurants Establishment (the "Seller") |
| Transaction Financing Method | The deal will be financed through the company's internal resources. |
| Date of Entering Into The Transaction | 2024-11-25 Corresponding to 1446-05-23 |
| Description of Activity of The Asset Subject of The Transaction | The "Maqsoud Restaurants" trademark specializes in the food sector and is known for offering broasted chicken and shawarma dishes. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable. |
| Transaction reasons | Through this deal, the company aims to achieve strategic expansion and enter the essential food sector by utilizing the "Maqsoud Restaurants" trademark to enhance its presence and increase its revenues. |
| Expected Impact of the Transaction on the Company and Its Operations | The deal is expected to contribute to a positive financial impact in the long term, with the initial financial effect anticipated to appear during the year 2025. |
| Related Parties | There are no related parties involved in this deal. |
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 22.5
Net Change 0.1 (+0.45%)
Value Traded (Sar) 1,612,468.64
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