| Element List | Explanation |
|---|---|
| Announcement Detail | Jamjoom Pharmaceutical Factory Company (the “Company”) announces the signing of a Standby Letter of Credit (“SBLC”) offer by its joint venture in Algeria, Jamjoom Algeria Lil Dawa SPA (“Jamjoom Algeria”) where the Company effectively owns 49% of the share capital, with NATIXIS ALGERIE (the “Bank”) with a total value of two billion two hundred fifty million Algerian Dinars (DZD 2,250,000,000) corresponding to approximately sixty four million eight hundred eighty eight thousand Saudi Riyals (SAR 64,888,000). To support the issuance of this SBLC, the Company has provided a corporate guarantee to the Bank on 15/01/2026 in accordance with Algerian Law and in proportion to the Company’s shareholding in the Joint Venture, therefore, the Company will be guaranteeing one billion one hundred two million five hundred thousand Algerian Dinars (DZD 1,102,500,000) corresponding to approximately thirty one million seven hundred ninety five thousand Saudi Riyals (SAR 31,795,000). The purpose of the Banking Facility is to fund Jamjoom Algeria’s mid-term working capital requirements. It should be noted that Jamjoom Algeria is a related party, as the company's board members, Mahmoud Yousuf Jamjoom, and Ahmed Yousuf Jamjoom, have a direct interest due to their membership on the board of Jamjoom Algeria. Meanwhile, the members Walid Yousuf Jamjoom, Mohammed Yousuf Jamjoom, and Alaa Yousuf Jamjoom have an indirect interest. |
