| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hadi Al Rasheed & Partners Co. announces the signing of a preliminary, non-binding memorandum of understanding with Taif Shipping Company, a limited liability company engaged in services related to oil and gas extraction, transportation, and blending of silica sand and chemicals used in oil and gas extraction operations, for the purpose of investment. |
| Memorandum Signing Date | 2025-10-20 Corresponding to 1447-04-28 |
| Counterparty | Taif Shipping Company "Limited Liability Company" |
| Memorandum Subject | a preliminary, non-binding memorandum of understanding between Mohammed Hadi Al Rasheed & Partners Co. and Taif Shipping Company, aimed at defining the framework of understanding regarding the preliminary mutual obligations and rights between both parties. - Conducting the necessary financial, legal, and technical due diligence. - Determination of the investment percentage and the financial consideration for the transaction based on the results of the financial evaluation and due diligence. - The memorandum also includes a number of standard provisions that govern confidentiality of information and the mechanism of cooperation between the two parties during the study period. |
| Memorandum Duration | It shall be valid for 90 days and may be extended by written agreement between both parties. |
| Related Parties | None |
| Financial Impact | there is currently no financial impact. |
| Additional Information | The company will announce any material developments regarding this memorandum in due course. |
