Waja Co. announces signing of a non-binding Memorandum of Understanding with Owtad Al Fahad Co. Ltd.

Element List	Explanation
Introduction	Waja Company is pleased to announce the signing of a non-binding Memorandum of Understanding (MoU) to acquire a 5% equity stake in Owtad Al Fahad Co. Ltd., a limited liability company. Established in 2020 and headquartered in Riyadh, the company provides construction, finishing, electrical, and mechanical services, and executes commercial and construction projects across various regions of the Kingdom of Saudi Arabia. It holds a First-Class Classification in the construction sector. This step comes as part of the Company's strategy to strengthen its presence in the contracting sector. The purchase consideration will be determined upon completion of the financial valuation, due diligence process, and obtaining the necessary approvals.
Memorandum Signing Date	2026-06-10 Corresponding to 1447-12-24
Counterparty	Owtad Al Fahad Co. Ltd.
Memorandum Subject	Signing of a non-binding Memorandum of Understanding (MoU) to acquire a 5% equity stake in Owtad Al Fahad Co. Ltd., with the purchase consideration to be determined upon completion of the financial valuation, satisfactory completion of the due diligence process, and receipt of the necessary approvals.
Memorandum Duration	Six (6) months, extendable by mutual agreement of both parties.
Related Parties	None
Financial Impact	There is no financial impact at this stage. The Company will announce any material developments, if any, in due course.
Additional Information	The Memorandum of Understanding is non-binding and does not impose any obligation on Waja Company in the event that the proposed transaction is not completed or is terminated for any reason. The proposed acquisition remains subject to the completion of due diligence, financial valuation, and the receipt of all required approvals from the relevant authorities.