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Saudi Ceramic Co. Announces an update on Saudi Ceramics Co. announces the signing of a memorandum of understanding with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP)
2040
SAUDI CERAMICS
0.51
%
1445/09/07 17/03/2024 09:52:38
| Element List | Explanation |
|---|---|
| Introduction | Further to the company's announcement on Tadawul website on April 16, 2023, that the company had signed a non-binding letter of intent with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group , as well as the company's announcement on Tadawul website on October 8, 2023 to sign a preliminary non-binding agreement (Term sheet), the company announces the extension of the period of the preliminary non-binding agreement (Term Sheet) signed on October 8, 2023 until the end of the current year, December 31, 2024. During the duration of the agreement, the two companies will complete the due diligence work, conduct the necessary assessments, final negotiations, sign the relevant agreements, and apply to the concerned authorities to obtain the necessary approvals. |
| Previous Announcement | Saudi Ceramics Co. announces the signing of a memorandum of understanding with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP) |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-04-16 Corresponding to 1444-09-25 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The two companies have extended the period of the preliminary non-binding agreement (Term Sheet) signed on October 8, 2023 until the end of the current year December 31, 2024. During the duration of the agreement, the two companies will complete the due diligence work,conduct the necessary assessments, final negotiations, sign the relevant agreements, and apply to the concerned authorities to obtain the necessary approvals. |
| 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. | Not applicable |
| Delay consequences on the Company’s financial results | Not applicable |
| Additional Information | Among its other activities, Eczacıbaşı Group owns a building materials and sanitary ware segment having a number of brands (the most important of which is Vitra). Its products have a substantial presence around the world. It owns factories for sanitary ware and accessories inside and outside Turkey. |
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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