AnnouncementDetails

Actions

Yanbu Cement Company announces the purchasing of the whole shares owned by Shuaiba Industrial Company on the capital of Yanbu Saudi Kuwaiti Paper Products Company

Element ListExplanation
Introduction Yanbu Cement Company announces that on Wednesday 20-04-2022, the legal procedures were completed for the purchase of the whole shares owned by Shuaiba Industrial Company in Yanbu Saudi Kuwaiti Paper Products Company, for an amount of (32,331,438) Thirty-Two Million, Three Hundred Thirty-One Thousand, Four Hundred and Thirty-Eight Saudi Riyal.
Transaction Details Yanbu Cement Company purchased 40% of Yanbu Saudi Kuwaiti Paper Products Company (the subsidiary company), which is represented in all the shares owned by Shuaiba Industrial Company (the partner), so that Yanbu Saudi Kuwaiti Paper Products Company becomes 100% owned by Yanbu Cement Company
Transaction Value (32,331,438) Thirty-Two Million, Three Hundred Thirty-One Thousand, Four Hundred and Thirty-Eight Saudi Riyal.
Transaction Terms --
Parties of the Transaction Yanbu Cement Company (buyer)

Shuaiba Industrial Company (seller)

Transaction Funding Method Yanbu Cement Company is funding the transaction from its own resources.
Transaction Execution Date 2021-12-31 Corresponding to 1443-05-27
Description of the Business of the Asset forming the Subject Matter of the Transaction Yanbu Saudi Kuwaiti Paper Products Company is a company specialized in the manufacture of all kinds of cement paper bags and wholesale trade in cement bags.
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction The following are the financial statements of Yanbu Saudi Kuwaiti Paper Products Company for the last three years:

- The fiscal year ended on 12-31-2021 net profit 5,573,237 Saudi Riyals.

- The fiscal year ended on 12-31-2020 net profit 5,632,460 Saudi Riyals.

- The fiscal year ended on 12-31-2019, net loss -367,670 Saudi Riyals.

Transaction reasons This purchasing deal conceding the company's strategy of growth and expansion, also to provide material and logistical support for the company's operations. Furthermore, the company believes in its role for supporting and empowering vital sectors in general, further to maximize the profit for the company's shareholders.
Expected Impact of the Transaction on the Company and Its Operations The financial impact of the deal will appear on the financial results for the First quarter of the fiscal year of 2022.
Related Parties  Mr. Fahad bin Suleiman Al-Rajhi, Yanbu Cement Company Chairman and Yanbu Saudi Kuwaiti Paper Products Company Chairman.

 Mr. Fahad bin Saleh Al-Ajlan, Yanbu Cement Company Board member and Yanbu Saudi Kuwaiti Paper Products Company Board member.

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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
34.0 0.5 (+1.49%)
Value Traded (SAR) Volume Traded
5,586,554.85 165,132