Since the company’s board of directors does not meet the requirements for a valid board meeting—due to the number of members falling below the minimum stipulated in the companies law or in the company’s bylaws—any actions related to handling the subscription amount or making investment decisions regarding this opportunity will be presented to the new board of directors, once it is fully formed, to determine whether to proceed with the investment or study the available alternatives. 
The company stated that it will announce any developments on this matter, if any, as soon as they become available.
According to data available on Argaam, Haddaj Investment Co., a subsidiary of Sadirat, signed in October 2024 a non-binding agreement to establish an investment fund with FAAD Financial Partners, licensed by the Capital Market Authority (CMA) under license number 32-23270, and with Nama Chemicals Co.
The agreement aims for Haddaj and FAAD Financial Partners to establish an investment fund to acquire a stake in Jubail Chemical Industries Company (JANA), a subsidiary of Nama Chemicals, set the fund’s basic rules, and conduct due diligence and valuation.
last June, Sadirat and Nama announced a binding subscription agreement between Nama, JANA, and FAAD Financial Partners, licensed by CMA.
Under the agreement, FAAD Financial Partners will inject SAR 200 million into JANA in exchange for acquiring a 40% stake in JANA’s capital through the issuance of new shares by JANA to FAAD Financial Partners.
last August, Sadirat’s board decided to invest SAR 70 million through Haddaj, the company’s investment arm, by subscribing to FAAD Industrial Fund.
Since the company’s board of directors does not meet the requirements for a valid board meeting—due to the number of members falling below the minimum stipulated in the companies law or in the company’s bylaws—any actions related to handling the subscription amount or making investment decisions regarding this opportunity will be presented to the new board of directors, once it is fully formed, to determine whether to proceed with the investment or study the available alternatives.
The company stated that it will announce any developments on this matter, if any, as soon as they become available.
According to data available on Argaam, Haddaj Investment Co., a subsidiary of Sadirat, signed in October 2024 a non-binding agreement to establish an investment fund with FAAD Financial Partners, licensed by the Capital Market Authority (CMA) under license number 32-23270, and with Nama Chemicals Co.
The agreement aims for Haddaj and FAAD Financial Partners to establish an investment fund to acquire a stake in Jubail Chemical Industries Company (JANA), a subsidiary of Nama Chemicals, set the fund’s basic rules, and conduct due diligence and valuation.
last June, Sadirat and Nama announced a binding subscription agreement between Nama, JANA, and FAAD Financial Partners, licensed by CMA.
Under the agreement, FAAD Financial Partners will inject SAR 200 million into JANA in exchange for acquiring a 40% stake in JANA’s capital through the issuance of new shares by JANA to FAAD Financial Partners.
last August, Sadirat’s board decided to invest SAR 70 million through Haddaj, the company’s investment arm, by subscribing to FAAD Industrial Fund.
