premargin

Element List	Explanation
Introduction	Further to the announcement of Red Sea International Company (the "Company") published on the Saudi Exchange (Tadawul) website on 13/07/1446H (corresponding to 13/01/2025G), regarding the signing a Sale and Purchase Agreement (SPA) by Red Sea Building Materials & Equipment Trading Company (The “subsidiary “) to sell its entire 81% stake in Premium Paints Company in the Kingdom of Saudi Arabia, for an initial Value of SAR 14,013,000.
Previous Announcement	Red Sea International Co. Announces the signing of a Sale and Purchase Agreement (SPA) by its subsidiary to sell a company owned by the subsidiary.
Date of Previous Announcement on Saudi Exchange’s Website	2025-01-13 Corresponding to 1446-07-13
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Further to the announcement published on the Saudi Exchange (Tadawul) website on 13-01-2025G, the Company announces the completion of the share sale and purchase transaction and the conclusion of the share transfer procedures, 09-02-2026G 21-08-1447H following the obtaining the necessary approvals from the relevant authorities. Accordingly, the ownership of the shares in Premium Paints Company has been transferred to (Saudi Industrial Paints Company Limited). The Company confirms that the financial impact of this transaction will be reflected in the consolidated financial statements for the fiscal year 2026G, contributing to the enhancement of liquidity levels and supporting the Company’s strategy to focus on more profitable investments.
Reasons For The Delay on The Date of The Event Previously Announced	Not applicable.
The costs associated with the event, and if they have changed or not with indication of the reasons.	The Company confirms that the initial Purchase consideration is SR 17,300,000. -for the total shares of the Premier Paints Company, 81% of the shares are indirectly held by the subsidiary , and 19% of the shares are held by a minority shareholder Sherwin Williams Cayman Islands Limited, the consideration will be allocated according to the shareholding. (81% = SR 14,013,000. - and 19% = SR 3,287,000) As stated in the previous announcement, the final consideration receivable is subject to adjustment based on the "closing accounts" in accordance with the mechanism specified in the agreement executed between the parties. The final consideration receivable will be announced upon the issuance of the closing accounts report, which is expected to be completed before the end of the first quarter of 2026G.
Delay consequences on the Company’s financial results	Not applicable.
Additional Information	The transaction was executed to strengthen the company's financial position, implementing the company's strategy of exiting and liquidating paints business segment, The proceeds from the transaction will be used for general operational purposes, The Company also confirms that there are no related parties in this transaction .

Red Sea International Company – Latest Developments Regarding the Announcement of Its Subsidiary’s Signing of a Sale and Purchase Agreement (SPA) to sell a company owned by the subsidiary.