ARTEX Industrial Investment Company announces the latest developments regarding the signing of a memorandum of understanding by the shareholders of one of its invested companies (Al Reef Sugar Refining Company) for Ithraa Holding Company to acquire all the shareholders' shares.
| Element List | Explanation |
|---|---|
| Introduction | Further to Artex Industrial Investment Company's announcement regarding the signing of a Memorandum of Understanding between one of its investee companies, Al-Reef Sugar Refining Company, and Ithraa Holding Company on June 21, 2025, which was previously extended for an additional period to complete the necessary studies.
Artex announces that on October 30, 2025, both parties agreed to extend a Memorandum of Understanding until January 31, 2026, at the request of Ithraa Holding Company to complete the relevant regulatory, financial, and technical procedures. It was also agreed to amend the commitment terms stipulated in a Memorandum of Understanding. |
| Previous Announcement | Artex Industrial Investment Company announces that the shareholders of one of the companies it invests in (Al Reef Sugar Refining Company) have signed a memorandum of understanding with Ithraa Holding Company (a closed joint-stock company) to acquire all the shareholders’ shares. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-08-21 Corresponding to 1447-02-27 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | 1. The Memorandum of Understanding is extended until January 31, 2026.
2. The terms of commitment stipulated in the Memorandum are amended to become binding on both parties, subject to the Saudi Industrial Development Fund's approval of the transfer of share ownership to the new partners, along with its associated financial obligations. This Memorandum shall be considered null and void if the Saudi Industrial Development Fund does not approve the completion of the ownership transfer, if information emerges that does not match the data provided during the Memorandum's term, or if the specified term expires without the Fund issuing final approval. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Additional Information | Any material developments will be announced later |
Comments