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Almasane Alkobra Mining Company (AMAK) announces the approval of the Board to establish a Simplified Joint Stock Company for the provision of drilling and exploration services
| Element List | Explanation |
|---|---|
| Announcement Detail | Almasane Alkobra Mining Company (AMAK) announces that its Board of Directors has approved, on 25-07-1447 AH, corresponding to 14-01-2026 AD, to establish a Simplified Joint Stock Company (100%) owned by (AMAK), with a share capital of SAR (100,000,000), to be based in Najran.The subsidiary will specialize in drilling, exploration, and related support services, subject to obtaining the necessary approvals and licenses from the relevant authorities. This initiative aligns with the Company’s strategic objective to develop its operational activities and strengthen its future investments in a manner that enhances operational efficiency and supports sustainable growth in the Kingdom’s mining sector. The Company will announce any material developments in this regard in due course. |
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 91.0
Net Change -2.35 (-2.52%)
Value Traded (Sar) 40,754,749.9
Volume Traded 443,750
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