| Element List | Explanation |
|---|---|
| Introduction | The National Agricultural Development Company (NADEC) announces to its valued shareholders the signing of a Share Purchase Agreement with Anaam Saudi for Trading Company, a wholly owned subsidiary of Al Muhaidib Group, to purchase all of its shares as the “sole partner” in Al Raie National Livestock Company (the Joint Venture), a limited liability company engaged in intensive livestock farming, breeding of sheep and goats, and meat production. The parties have agreed on a total consideration of SAR 23,687,496 for the 2,450 shares, which represents the net book value of the shareholder’s equity in the company. Upon completion of the transaction, NADEC’s ownership in Al Raie National Livestock Company will become 100%. |
| Transaction Details | Acquisition of all shares owned by Anaam Saudi for Trading Company (wholly owned by Al Muhaidib Group) in Al Raie National Livestock Company, amounting to 2,450 ordinary shares representing 49% of the total share capital of the company. |
| Transaction Amount | SAR 23,687,496 |
| Transaction Conditions | The transaction is subject to a number of conditions, including: 1. The approval of the Agricultural Development Fund for the transaction and the resulting change in the ownership structure. 2. Obtaining any other regulatory or contractual approvals required to complete the transaction. |
| Parties of the Transaction | The National Agricultural Development Company (NADEC) – Purchaser Anaam Saudi for Trading Company (a wholly owned subsidiary of Al Muhaidib Group) – Seller |
| Transaction Financing Method | From the company's internal resources |
| Date of Entering Into The Transaction | 2026-04-02 Corresponding to 1447-10-14 |
| Description of Activity of The Asset Subject of The Transaction | Al Raie National Livestock Company is engaged in intensive livestock farming and breeding of sheep and goats, and meat production, as part of a strategic project in the Hail region aimed at supporting food security, increasing local production, and enhancing the efficiency and sustainability of the livestock sector in the Kingdom. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Given the recent establishment of Al Raie National Livestock Company and that it has not commenced its operational activities to date, the following financial information is available for the company, based on its audited annual financial statements for the year 2024: Financial data for the year 2024: Total assets: SAR 28,823,101 Total equity: SAR 3,512,447 Net loss for the year: SAR 1,487,553 Financial data for 2025 is unaudited. |
| Transaction reasons | This transaction is intended to enhance and improve the efficiency of governance and decision-making mechanisms, and to achieve greater alignment between the project and NADEC’s strategic and operational objectives, in a manner that supports increasing local red meat production, reducing reliance on imports, and enhancing the sustainability of the sector, in line with the Kingdom’s food security objectives and Saudi Vision 2030. |
| Expected Impact of the Transaction on the Company and Its Operations | The transaction is expected to have a positive impact by enhancing project management efficiency and supporting the flexibility of achieving its strategic and operational objectives. |
| Related Parties | None |
| Additional Information | It should be noted that the parties had, in due course, commenced implementing the terms of the agreement and working with the relevant parties to complete the necessary procedures related thereto, and follow-up with the relevant authorities remains ongoing to fulfil the related requirements. |
