On April 30, 2026, Takween Advanced Industries announced the signing of a Share Purchase Agreement to acquire JOFO Nonwoven Company Limited's 70% stake (129,360 shares) in Advanced Fabrics Factory Company (SAAF), where Takween currently holds a 30% stake. Upon completion, Takween will own 100% of SAAF's share capital, with the company assuming all current and future obligations of the target company in lieu of cash payment. The transaction is expected to generate a preliminary gain of SAR 3.95 million under IFRS 3, subject to final auditor review and regulatory approvals. The financial impact will be reflected in Takween's Q1 2026 consolidated financial statements, following the Board's December 17, 2025 approval of the initial memorandum of understanding.

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Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.