| Introduction | Addendum announcement of Al kathiri Holding Company on 23/06/1440 H corresponding to 28/02/2019, concerning the signing of one of its subsidiaries (Alian Industry Co – wholly owned by Alkathiri Holding Company) a Memorandum of Understanding with EMMEDUE (Italian company working in the field of modern construction technology) The Company would like to clarify to its shareholders the following: |
| Date of Posting the Previous Announcement of Development on Tadawul’s Website | 2019-02-28 Corresponding to 1440-06-23 |
| Change on the Development | Agreement on the transfer of the technology of the production of concrete panels three-dimensional by buying the machinery and equipment for the process of manufacturing and operation and transfer of expertise and the processing and training of employees and employees of the company on the mechanism of manufacturing and construction and the rehabilitation of contractors wishing to use this technique ,an amount of € 3,325,000 equivalent (SAR 14,254,987). |
| Financial Impact on the change | Will be determined later |
| Additional Information | Payment Method : An advance payment of 28% of the total value of the agreement , A letter of credit will be opened with the remaining amount.There are no related parties to this agreement, and any developments and financial impact will be disclosed later. |
