United Wire Factories announces updates regarding possible ‎acquisition of a stake in A-1 Fence Arabia ‎

The United Wire Factories Co. announces the latest developments regarding its previous announcement of signing a memorandum of understanding with A-1 Fence DMCC (UAE) for the possible acquisition of a stake in the ownership of A-1 Fence Arabia Company for Industry (a foreign limited company) wholly owned by A-1 Fence DMCC (UAE).

Work is underway to finalize the statutory approvals and terms of the agreement, and any material developments in this regard will be announced.

Further to the announcement of the United Wire Factories Company (the “Company”) on August 18, 2022 that it has signed a Share Purchase Agreement to acquire 30% of the capital of A-1 Fence Arabia Company for Industry, which is wholly owned by A-1 Fence DMCC (UAE) , and where The announcement included an indication that the agreement is subject to the approval of the General Authority for Competition and other regulatory bodies with jurisdiction to complete it, as well as a number of conditions that must be fulfilled on October 30, 2022 AD; The company announces that work is still underway to complete the statutory approvals and terms of the agreement, and any material developments in this regard will be announced.