| Element List | Explanation |
|---|---|
| Introduction | With reference to SARCO’s previous announcement published on the Saudi Exchange website on 9 /2/ 1448H (23 July 2026G), regarding its subsidiary Masafi Ventures Holding Company acquiring an 85% ownership stake in Advanced Industrial Supplies Company using the company’s own resources — a strategic transaction aimed at expanding SARCO’s presence in the industrial manufacturing sector, including wooden doors, aluminum works, kitchens, and metal fabrication, and leveraging the company’s existing production capacity, active project portfolio, and strong future growth opportunities. Following remarks regarding the inclusion of the financial statements of the acquired asset, SARCO is issuing this amended disclosure to reinforce transparency and compliance with disclosure requirements. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-07-23 Corresponding to 1448-02-09 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | According to the audited financial statements - 2023: (SAR 112,174) - 2024: (SAR 748,601) - 2025: (SAR 865,505) |
| Financial Impact on the change | No material impact is expected on SARCO’s consolidated financial statements at this stage. Positive effects of the acquisition are anticipated to appear in Q4 2026, following completion of ownership transfer and consolidation. |
| Additional Information | Any material developments related to closing procedures or due diligence results will be announced in due course. |
Supplementary Announcement from Saudi Arabian Refineries Company (SARCO) Regarding Its Subsidiary “Masafi Ventures” Acquisition of 85% Ownership in Advanced Industrial Supplies Company
AI Summary
- Saudi Arabian Refineries Company (SARCO) issued an amended disclosure regarding its subsidiary Masafi Ventures’ 85% acquisition of Advanced Industrial Supplies Company to include historical financial data.
- The acquired asset reported audited net losses of SAR 112,174 in 2023, SAR 748,601 in 2024, and SAR 865,505 in 2025.
- No material impact is currently expected on SARCO’s consolidated financial statements, with positive effects projected to begin in Q4 2026 following the completion of the ownership transfer.
