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Thob Al Aseel Co. announces an update on the signing of a non-binding memorandum of understanding to acquire (100%) of Al-Tuwaijri Men's Supplies Company
4012
ALASEEL
-0.88
%
1448/02/26 09/08/2026 16:04:58
| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement of Thob Al Aseel Co. published on the Saudi Exchange (Tadawul) website on 10/02/2026G (corresponding to 22/08/1447H) regarding the signing of a non-binding memorandum of understanding to acquire (100%) of Al-Tuwaijri Men's Supplies Company, the Company announces to its valued shareholders the expiry of the memorandum's without completing the potential transaction, as detailed under the developments section below. |
| Previous Announcement | The Company's signing of a non-binding memorandum of understanding with Al-Tuwaijri Men's Supplies Company (a limited liability company) on 09/02/2026G (corresponding to 21/08/1447H), under which the two companies agreed to commence discussions to study the potential acquisition by Thob Al Aseel Co. of (100%) of Al-Tuwaijri Men's Supplies Company, as part of the Company's expansion plans and business growth, for a term of six (6) months from the signing date, extendable by mutual agreement of the parties. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-02-10 Corresponding to 1447-08-22 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company announces the expiry of the term of the non-binding memorandum of understanding signed with Al-Tuwaijri Men's Supplies Company on 09/08/2026G (corresponding to 26/02/1448H), without the two parties reaching a final binding agreement, and accordingly the potential transaction has not been completed, following the completion of the relevant studies and negotiations between the parties. The Company confirms that the expiry of the memorandum does not give rise to any financial or legal obligations on either party given its non-binding nature. The Company also extends its sincere thanks and appreciation to Al-Tuwaijri for the cooperation and professionalism it demonstrated throughout the negotiations, wishing it continued success. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not applicable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no material costs associated with the event, and no change has occurred from what was previously disclosed, as the memorandum of understanding is non-binding and did not give rise to any financial obligations. |
| Delay consequences on the Company’s financial results | Not applicable. |
| Additional Information | The Company confirms that the expiry of the memorandum of understanding does not affect the existing commercial relationship between the two parties, as Al-Tuwaijri Men's Supplies Company remains one of the Company's customers. |
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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