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Arabian Centres Company (Cenomi Centers) announces the latest developments in relation to the discussions with Fawaz Abdulaziz Alhokair Company (Cenomi Retail) regarding a potential combination of the two companies.
| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement made by Arabian Centres Company (“Cenomi Centers”) on the Saudi Exchange website on 07/05/2023G (corresponding to 17/10/1444H) with regards to being in discussions with Fawaz Abdulaziz Alhokair Company (“Cenomi Retail”) in relation to a potential transaction to combine the business of the two companies, the Boards of Directors of the two companies have agreed to suspend the discussions regarding the business combination until further notice. While the companies continue to believe in the strategic merits of a potential combination, the two companies believe that conditions and timing are currently not ideal for the business combination of the two companies. Cenomi Centers remains committed to engaging in transactions that deliver benefits to all stakeholders. Cenomi Centers’ Board of Directors would like to thank Cenomi Retail and all parties involved for their efforts. |
| Previous Announcement | Arabian Centres Co. (Cenomi Centers) announces that it is in discussions with Fawaz Abdulaziz Alhokair Company (Cenomi Retail) on a potential combination of the two companies |
| Date of Previous Announcement on Tadawul's Website | 2023-05-07 Corresponding to 1444-10-17 |
| Percentage of fulfilled achievement | The suspension of the discussions regarding the business combination between the two companies until further notice. |
| Event's Expected Completion Date | Not applicable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The Company incurred costs of advisers in relation to the discussions. |
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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