| Introduction | Referring to the company’s previous announcements regarding its intention to establish a factory that works with Italian technology to produce 3D concrete panels, Al Kathiri Holding Company wishes to clarify to its shareholders that it has completed 90% of the construction work of the factory and has imported and stored production lines at the factory site in Sudair City for Industry and Business |
| Previous Announcement | Establishing the Alian Industry Factory in Sudair City for Industry and Business |
| Date of Previous Announcement on Tadawul’s Website | 2019-10-20 Corresponding to 1441-02-21 |
| Progress | 90% of the construction work has been completed to build the new plant |
| Event’s Expected Completion Date | It is expected that the production lines of the new factory will be operational by the beginning of the second quarter of 2021 |
| Reasons for Exceeding the Announced End Date | Due to the outbreak of the Corona Covid-19 pandemic in the State of Italy and the suspension of air traffic, which affected the presence of Italian installation and operation specialists to the Kingdom of Saudi Arabia |
| Expenses Related to the Event, Whether They Changed or Not and Justification | It cannot be identified at present |
| Impact of the Delay on the Company’s Financial Results | It will be determined later |
| Additional Information | The company wishes to clarify to its shareholders that it has imported all equipment and machinery for production lines and has been stored at the factory site in Sudair City for Industry and Business, and that it will be installed, operated, and the human and technical personnel in the factory will be trained by Italian specialists, after completing the necessary procedures for their attendance |
