| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of GHIDA ALSULTAN for Fast Food, published on the Tadawul website dated 10/02/2026, regarding the signing of an agreement to acquire Simple Burger Establishment (100%), the company wishes to disclose the parties to the transaction in detail and clarify the agreed terms of the agreement. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-02-10 Corresponding to 1447-08-22 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | First: With respect to the parties to the transaction, the Company would like to clarify them as follows: 1. **Buyer:** GHIDA ALSULTAN for Fast Food – a listed joint stock company. 2. **Seller:** Mr. Yousef Aref Al-Mesbahi, owner of Simple Burger Establishment for Meal Services, Commercial Registration No. (4030450877). Second: With respect to the details of the acquisition agreement, the Company would like to clarify that the following has been agreed: 1. The Seller shall fully cooperate with the Company in operations and support for a period of three years from the date of acquisition in order to achieve targeted sales objectives. 2. Transfer of assets, trade name, rights, and obligations from the Seller to the Company (the Buyer). 3. A phased payment mechanism linked to financial performance following the acquisition. 4. The transaction value shall be paid in three installments, with a portion of the total consideration subject to conditions related to achieving specific sales and profitability levels compared to previous years. 5. A portion of the purchase price is contingent upon achieving agreed financial indicators, most notably: achieving a minimum net profit-to-sales ratio during a specified fiscal year, and achieving a minimum annual net profit. 6. The Seller has acknowledged full disclosure of all financial and legal obligations, as well as any existing or potential claims. 7. The Seller shall remain liable for any obligations or disputes not disclosed and arising prior to the completion date of the sale, even if such matters appear subsequently. |
| Financial Impact on the change | NA |