| Element List | Explanation |
|---|---|
| Introduction | With reference to Dar Almarkabah for Renting Cars Co.’s announcement published on the Saudi Exchange website on 11/08/2025, regarding the signing of a Memorandum of Understanding with Al-Sahm Al-Thahabi Car Rental Company for the purpose of acquiring the entire shares of Al-Sahm Al-Thahabi Car Rental Company. The Company would like to clarify that, following the completion of the relevant studies and discussions between the parties, no final agreement was reached regarding the completion of the transaction. |
| Previous Announcement | Dar Al Markabah Car Rental Company announces the signing of a Memorandum of Understanding to acquire all shares of Al Sahm Al Thahabi Car Rental Company. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-08-11 Corresponding to 1447-02-17 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company would like to clarify that, after conducting the necessary studies and discussions between the parties regarding the transaction subject of the Memorandum of Understanding, no final agreement was reached between the parties regarding the completion of the transaction. Accordingly, the Memorandum of Understanding has been terminated and cancelled. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
Dar Almarkabah for Renting Cars Co. Announces an update on Dar Al Markabah Car Rental Company announces the signing of a Memorandum of Understanding to acquire all shares of Al Sahm Al Thahabi Car Rental Company.
AI Summary
- Dar Almarkabah for Renting Cars Co. has terminated and cancelled the Memorandum of Understanding (MOU) to acquire 100% of the shares of Al-Sahm Al-Thahabi Car Rental Company.
- The decision follows the completion of necessary studies and discussions where no final agreement was reached between the parties.
- The original MOU was previously announced on August 11, 2025.
- There are no associated costs related to the cancellation of this transaction.
