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Al Hassan Ghazi Ibrahim Shaker Co. Announces an update on Al Hassan Ghazi Ibrahim Shaker, LG Electronics, and the Ministry of Investment Saudi Arabia (MISA) Sign an MOU to Explore Local Manufacturing of AC Compressors in Saudi Arabia
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Al Hassan Ghazi Ibrahim Shaker Company ("Shaker Group") regarding the signing of a non-binding Memorandum of Understanding (MoU) with LG Electronics Company "LG" and the Ministry of Investment to localize the industry of air conditioner compressors (compressors) in the Kingdom of Saudi Arabia on 05/08/1445 AH corresponding to 15/02/2024 AD. Al Hassan Ghazi Ibrahim Shaker Company announces the latest developments related to the Memorandum of Understanding, which is represented by extending its duration for one year until 05/02/2026 AD. |
| Previous Announcement | Al Hassan Ghazi Ibrahim Shaker, LG Electronics, and the Ministry of Investment Saudi Arabia (MISA) Sign an MOU to Explore Local Manufacturing of AC Compressors in Saudi Arabia |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-02-15 Corresponding to 1445-08-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The company would like to announce to its valued shareholders the extension of the Memorandum of Understanding for a period of one year until 05/02/2026 AD. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Additional Information | Any material developments will be announced in relation to the MoU. |
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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