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Halwani Brothers Company announces that its subsidiary company in the Arab Republic of Egypt (Halwani Brothers Company - Egypt) has signed a (non-binding) memorandum of understanding with Aquat Food Industries Company, the sister company of ALBAIK Food System Company, and the owner of the knowledge and technical rights in the manufacture of the famous ALBAIK products

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Introduction On the occasion of the visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, may God protect him, to the Arab Republic of Egypt, Halwani Brothers Company announces that its subsidiary company in the Arab Republic of Egypt (Halwani Brothers Company - Egypt) signed on 06 / 21/ 2022, a (non-binding) memorandum of understanding with Aquat Food Industries Company, the sister company of ALBAIK Food System Company, and the owner of the knowledge and technical rights in the manufacture of the famous ALBAIK products, a well-known fast food chain, for the purpose of studying the possibility of cooperation together in the field of food manufacturing for “ALBAIK” products. And supplying it to those who are licensed to operate ALBAIK `restaurants in the Arab Republic of Egypt, after Aquat Company completes the examination and evaluation that includes technical and logistical assessment for the factories of Halwani Brothers Company - Egypt - and agrees to the necessary conditions for that.
Memorandum Signing Date 2022-06-21 Corresponding to 1443-11-22
Counterparty Aquat Food Industries Company - a Saudi closed joint stock company, which owns the knowledge and technical rights to manufacture the famous ALBAIK products for distribution to those licensed to operate ALBAIK restaurants by ALBAIK Food Systems.
Memorandum Subject the purpose of studying the possibility of cooperation together in the field of food manufacturing for “ALBAIK” products. And supplying it to those who are licensed to operate ALBAIK `restaurants in the Arab Republic
Memorandum Duration One year, renewable
Related Parties Ms. May AbuGhazalah - Board Member (Non-Executive)
Financial Impact Expected investments in the range of one billion Egyptian pounds.
Additional Information The company will announce any substantial developments 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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