Alhasoob Co. (SASE:9522) signed a non-binding Memorandum of Understanding to acquire Alkhorayef Printing Solution from Alkhorayef Group Company on December 24, 2023. A financial advisor has not been appointed for this stage, and a specialized advisor will be appointed to complete the financial and legal due diligence study process.

The conclusion of the proposed transaction is subject to the completion of the financial and legal due diligence process and the signing of a binding agreement. The proposed deal is subject to obtaining the regulatory approvals of the competent authorities and the approval of the company's extraordinary general assembly.