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Alwasail Industrial Co. Announces an update on the signed a purchase agreement with the partners in Shawcor Composite Piping Systems Middle East Limited, to fully acquire the company.
9525
ALWASAIL INDUSTRIAL
6.31
%
1445/05/06 20/11/2023 15:41:17
| Element List | Explanation |
|---|---|
| Introduction | Reference to Alwasail Industrial Company’s announcement published on 24/11/1444 AH corresponding to 13/06/2023 AD regarding the acquisition of all ownership shares of Shawcor Composite Pipe Systems Middle East Ltd. with a total transaction value of two million (2,000,000) Saudi riyals. Accordingly, the company is pleased to announce The General Authority for Competition announces the issuance of a no-objection document pursuant to its decision No. 710 dated 25/04/1445 AH corresponding to 09/11/2023 AD in respect of a non-objection to completing the economic concentration transaction arising from the acquisition of the partners’ shares in Shawcor Composite Pipe Systems Middle East Limited. The company will also announce all essential developments in this regard. |
| Previous Announcement | Alwasail Industrial Company announces that it has signed a purchase agreement with the partners in Shawcor Composite Piping Systems Middle East Limited, to fully acquire the company. |
| Date of Previous Announcement on Tadawul's Website | 2023-06-13 Corresponding to 1444-11-24 |
| Percentage of fulfilled achievement | 70 % |
| Event's Expected Completion Date | 31/12/2023 |
| Reasons for Exceeding the Announced End Date | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no change in cost |
| Impact of the Delay on the Company's Financial Results | None |
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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