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Raoom Trading Company (Raoom) announces the latest developments regarding a (non-binding) memorandum of understanding signed with Qassim Corrugated Box Factory Company.
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of Raoom Trading Company (Raoom) published on the Tadawul website on 08/03/2023 AD regarding the signing of a (non-binding) memorandum of understanding with the Qassim Corrugated Box Factory Company - a one-person company with limited liability to potentially acquire (100%) of the ownership shares of the Qassim Corrugated Box Factory Company - a one-person company with limited liability, which is wholly owned by Al-Arifi Trading, Industry and Contracting Company by increasing the company capital through the issuance of new shares in Raoom Trading Company. The company would like to announce that it has been agreed with the Qassim Corrugated Box Factory Company - a one-person company to extend this memorandum with the same terms and conditions as above for another additional period of (180) days from 06-07-2023 AD in order to complete the work of due diligence |
| Previous Announcement | Raoom Trading Company (Raoom) announces that it has signed a (non-binding) Memorandum of Understanding to acquire all shares of the Qassim Corrugated Box Factory Company by increasing the company's capital through the issuance of shares to the owners of the Corrugated Carton and Paper Products Factory Company. |
| Date of Previous Announcement on Tadawul's Website | 2023-03-08 Corresponding to 1444-08-16 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| Reasons for Exceeding the Announced End Date | To permit the completion of due diligence and other preparatory work for the implementation of the deal agreements. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Impact of the Delay on the Company's Financial Results | N/A |
| Additional Information | Any material developments regarding this agreement will be announced 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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