‎“Mayar Holding” BOD approves establishing subsidiary ‎company specialized in food processing activities

Mayar Holding Company announced the approval of the Board of Directors to participate in the establishment of a Saudi subsidiary (with limited liability) to engage in food processing activity. The ownership structure of the company will be as follows:

1- Mayar Holding Company by 90%

2- Ajda Trading Company by 10% (subsidiary).

The company’s headquarters will be in the city of Riyadh, and it is expected that the company will start its operations as of the first quarter of the year 2024 AD, after obtaining the necessary approvals and licenses from the relevant authorities, and this approach comes in line with the company’s strategy to diversify its revenues and increase its market share in various sectors.

The company expects that the financial impact on its results will appear during the fiscal year 2024.

It is worth noting that the Agadi Trading Company is indirectly owned by Mayar Holding Company by 75% through its subsidiary, the Jedaya Agricultural Company.