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Mohammed Hassan Al-Naqool Sons Company announces that its wholly owned subsidiary (Sadan Industrial Company) has signed a purchase agreement for (50) trucks at a value of SAR 14,895,000 excluding VAT.
| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hassan Al-Naqool Sons Company is pleased to announce that its wholly-owned subsidiary, Sadan Industrial Company, has signed an agreement to purchase (50) new trucks. This acquisition is part of Sadan's strategic plans to expand its transportation and logistics operations and enhance its operational capabilities to meet the growing demand for transportation services. This step is an extension of the Group's strategy aimed at developing its business, improving the efficiency of its operational fleet, and strengthening its ability to provide integrated logistics services that efficiently and reliably meet the needs of its clients. |
| Transaction Details | The deal involves signing an agreement to purchase (50) new trucks from the Saudi Diesel Equipment Company. |
| Transaction Amount | 14,895,000 Saudi Riyals excluding VAT |
| Transaction Conditions | It was agreed that the trucks would be received in stages, with the determination of the number of trucks to be withdrawn in each stage left to the discretion of the Sadan Company, based on its operational needs, market conditions and other relevant factors. |
| Parties of the Transaction | Buyer: Sadan Industrial Company (a wholly owned subsidiary of Mohammed Hassan Al-Naqool Sons Company) Seller: Saudi Diesel Equipment Company |
| Transaction Financing Method | The transaction will be financed through the company’s own resources and credit facilities previously obtained by the subsidiary. |
| Date of Entering Into The Transaction | 2026-07-08 Corresponding to 1448-01-23 |
| Description of Activity of The Asset Subject of The Transaction | Fifty (50) Daewoo trucks, model 2026, will be used in transport and logistics operations. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable |
| Transaction reasons | The deal aims to support the company's expansion plans by increasing the size of its operational fleet and meeting the growing demand for transportation and logistics services; thereby enhancing its competitiveness, improving the efficiency of its operations, and contributing to revenue growth and the achievement of its strategic objectives. |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact of this transaction is expected to be reflected in the third quarter of 2026. |
| Related Parties | nothing |
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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