In reference to Najran Cement Company's announcement dated 01-01-2024G, corresponding to 19-06-1445H, wherein a non-binding memorandum of understanding was signed with Ayan for Commerce & Industry. As per the memorandum, Najran Cement Company was set to explore the feasibility of acquiring a minority stake in one of Ayan's subsidiary companies operating in the building materials industry. Najran Cement Company now officially declares the conclusion of the non-binding memorandum of understanding period without reaching a definitive agreement. It is emphasized that the negotiation channels remain open with Ayan for Commerce and Industry Company. Any potential agreements or developments in this matter will be communicated in a timely manner. Importantly, the conclusion of the Memorandum of Understanding period is clarified not to have any financial implications.
