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Mohammed Hadi Al-Rashid & Partners announces the purchase of shares in a company — acquisition of a stake in the capital of an unlisted company for SAR 92,500,000
| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hadi Al-Rasheed & Partners announces the signing of a Share Purchase Agreement (SPA) to acquire 50% of the capital of Taif Shipping Company. This deal is expected to support the company’s strategy in securing the supply chain. |
| Transaction Details | Mohammed Hadi Al-Rasheed & Partners announces the signing of a share purchase and sale agreement (SPA) to acquire 50% of the capital of Taif Shipping Company. |
| Transaction Amount | SAR 92,500,000 |
| Transaction Conditions | The agreement includes the standard terms, conditions, and warranties typically offered by each party. Completion of the transaction is subject to the fulfillment of the agreed terms and warranties between the parties and the receipt of all relevant approvals. |
| Parties of the Transaction | - Buyer: Mohammed Hadi Al-Rashid & Partners Company. - Sellers: Ms. Jana Marhaf Ali Abu Khamsin and Mr. Mohammed Sidqi Ahmed Abu Khamsin (individuals). |
| Transaction Financing Method | The acquisition will be financed through the company's own resources and available financing facilities. |
| Date of Entering Into The Transaction | 2026-07-09 Corresponding to 1448-01-24 |
| Description of Activity of The Asset Subject of The Transaction | Taif Shipping Company was established in 2018 and is headquartered in Al-Khobar in the Eastern Province. It operates in the field of services related to oil and natural gas extraction, and the transportation and mixing of silica sand and chemicals used in conventional and unconventional oil and gas extraction. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Revenue (in thousands): 2023: SAR 91,096,454 2024: SAR 161,693,583 2025: SAR 116,506,302 |
| Transaction reasons | This transaction aligns with Mohammed Hadi Al-Rasheed & Partners' value chain integration strategy, building on its existing operations in the mining and processing of industrial silica sand. This integration is achieved through the acquisition of a stake in Taif Shipping, a company specializing in services related to oil and gas extraction, as well as the transportation and blending of silica sand and related chemicals. The transaction is expected to foster operational synergies between the two companies, expand the marketing channels for the company's silica products, and support future growth opportunities. |
| Expected Impact of the Transaction on the Company and Its Operations | The deal is expected to have a positive impact on the company’s results and financial position in the medium and long term. |
| Related Parties | There are no related parties in this transaction. |
| Additional Information | The signing of this agreement does not constitute completion of the acquisition, as the completion of this transaction is contingent upon obtaining the approval of the General Authority for Competition, other relevant approvals, and fulfillment of the preconditions agreed upon by both parties. Mohammed Hadi Alrasheed & Partners will announce any material developments or upon completion of the transaction in due course. For any inquiries, please contact the Investor Relations Department via email at: ir@alrasheedco.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.
Share
Company Performance
Key Parameters
Last Price 60.0
Net Change -2.0 (-3.23%)
Value Traded (Sar) 34,789.35
Volume Traded 579
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