| Element List | Explanation |
|---|---|
| Introduction | Takween Advanced Industries Announces the Signing of a Share Purchase Agreement to Acquire the 70% Stake Held by the Chinese Partner JOFO Nonwoven Company Limited in Advanced Fabrics Factory Company (SAAF) on 30 April 2026 |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2025-12-17 Corresponding to 1447-06-26 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The Company has signed a Share Purchase Agreement (SPA) on 30 April 2026 with the Chinese partner JOFO Nonwovens Co., Ltd to acquire its entire 70% stake in Advanced Fabrics Factory Company (SAAF) (a limited liability company), representing 129,360 shares. Takween currently holds a 30% stake in SAAF, representing 55,440 shares. Upon completion of the transaction, the Company will own 100% of the share capital of SAAF. This is in consideration for the seller’s transfer of its entire stake, with Takween Advanced Industries Company assuming all current and future obligations of the target company, including financial and operational liabilities, as well as any other existing or contingent obligations, in accordance with the terms and conditions set out in the Share Purchase Agreement. |
| Financial Impact on the change | With respect to the expected financial impact, and in accordance with the requirements of International Financial Reporting Standard IFRS 3, the estimated net financial impact of the transaction is a gain of SAR 3.95 million (gain arising from the acquisition). It should be noted that these figures are preliminary and remain subject to final review by the external auditor, and may change based on the final assessment of the fair value of the net assets and liabilities at the completion date. The financial impact of the transaction is expected to be reflected in the consolidated financial statements of Takween Advanced Industries Company for the first quarter of 2026, subject to completion of the transaction within the aforementioned period. |
| Additional Information | - It is worth noting that the Company’s Board of Directors approved, on 17 December 2025, the signing of a Memorandum of Understanding with the aforementioned partner to acquire the stated stake. The Board also authorized its Chairman to complete all regulatory procedures, negotiate, and execute the final agreements in this regard. - The transaction is subject to a number of conditions precedent, including obtaining the relevant regulatory approvals. - Takween Advanced Industries will announce any material developments related to the transaction in due course. |
