Mayar Holding Co. Announces Purchase Poultry project to produce broiler chickens. in the value of 10,800,000 Saudi Riyals (ten million eight hundred thousand Saudi Riyals)

Mayar Holding Co. Announces Purchase Poultry project to produce broiler chickens. in the value of 10,800,000 Saudi Riyals (ten million eight hundred thousand Saudi Riyals)

Element List

Explanation

Transaction Details

Based on Mayar Holding Company’s strategic plan to expand its operational activities, diversify its sectoral operations, and enhance its operating revenues, one of its subsidiary companies, “Jedaya Agricultural Company” has signed a contract to purchase a poultry project for the production of broiler chickens. The company intends to enter into the poultry farming sector to produce broiler chickens and expand it gradually for the purposes of diversifying the company’s activities and benefiting from complementarity with the company’s current sectors. The project consists of owned land, breeding barns, operating equipment, and poultry farming supplies, in addition to an “operational” agricultural project license from the Ministry of Environment, Water & Agriculture. The project is located in Shaqra Governorate, Riyadh region, on a land area of 93,100 square meters. The contract results in Jedaya Agricultural Company owning the entire project and 100% of all its assets.

Transaction Value

10,800,000 Saudi Riyals (ten million eight hundred thousand Saudi Riyals)

Transaction Terms

The amount of 700,000 Saudi Riyals (seven hundred thousand Saudi Riyals) will