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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.

Element ListExplanation
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.

The Capital Market Authority and the Saudi Stock 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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