Addendum Announcement from Saudia Dairy and Foodstuff Co. (SADAFCO) in regards to the latest developments related to the signed memorandum of understanding with Tabuk Agriculture Development Company, Horizon Food Factory Co Ltd.
|Introduction||Further to the announcement of the Saudi Dairy and Foodstuff Company (SADAFCO) on 27/07/2020G, on Tadawul website regarding its signing of Non-Binding Memorandum of Understanding Term Sheet for purchase and expansion of controlling stake in Horizon Food Company Ltd, Al Khobar, from Tabuk Agriculture Development Company, subject to the satisfactory completion of financial, technical, business, commercial and legal due diligence. |
Whereas, the term of the Non-Binding Memorandum of Understanding Term Sheet has ended as per the determined period and previously agreed and set out in the Term Sheet for three months had ended on 27/10/2020G, while no final agreement has been reached between its parties.
|Date of Posting the Previous Announcement of Development on Tadawul's Website||2020-07-27 Corresponding to 1441-12-06|
|URL of the Previous Announcement||Click Here|
|Change on the Development||The final agreement between the parties has not been signed or reached, whereas the term of the Non-Binding Memorandum of Understanding Term Sheet effective for three-month had ended without an extension.|
|Financial Impact on the change||There is no financial impact|
|Additional Information||SADAFCO will announce on Tadawul if any material developments take place with regard to this transaction.|
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