Saudi Vitrified Clay Pipes Co. announces the latest developments regarding the signing of a Memorandum of Understanding with Laffan Pipes Factory Company in the State of Qatar.

Sunday, 27 September 2026

 

Element ListExplanation
Introduction With reference to the announcement of Saudi Vitrified Clay Pipes Co. (“SVCP” or the “Company”) published on the Saudi Exchange website on 14/02/2024G regarding the signing of a Memorandum of Understanding with Laffan Pipes Factory Company in the State of Qatar (“Laffan Qatar”), and the subsequent announcement published on 12/08/2024G regarding the signing of the partnership agreement with Laffan Qatar, the Company announces the latest developments in this regard, which consist of the conversion of Laffan Pipes Company (“Laffan Saudi”) from a one-person limited liability company into an unlisted Saudi joint stock company with an issued capital of SAR 45,516,173, and the admission of Laffan Qatar as a shareholder therein holding 45%. Accordingly, SVCP’s ownership in Laffan Saudi will be 55%, while Laffan Qatar’s ownership will be 45%.
Previous Announcement Saudi Vitrified Clay Pipes Co. announces the latest developments regarding the signing of a Memorandum of Understanding with Laffan Pipes Factory Company in the State of Qatar.
Date of Previous Announcement on Saudi Exchange’s Website 2024-08-12 Corresponding to 1446-02-08
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event On 15/09/2026G, the application for the conversion of Laffan Saudi from a one-person limited liability company into an unlisted Saudi joint stock company was approved, with an issued capital of SAR 45,516,173 divided into 45,516,173 ordinary shares of equal value, each with a nominal value of SAR 1. The issued capital has been fully paid up through in-kind contributions.

Furthermore, Laffan Qatar’s admission as a shareholder in Laffan Saudi was completed through subscription to the capital increase against an in-kind contribution representing 45% of the ownership interest. Accordingly, SVCP’s ownership in Laffan Saudi is 55%, while Laffan Qatar’s ownership is 45%.
Reasons For The Delay on The Date of The Event Previously Announced Not Applicable.
The costs associated with the event, and if they have changed or not with indication of the reasons. There has been no change in the costs associated with the event.
Delay consequences on the Company’s financial results Not Applicable.
Additional Information The application for the conversion of Laffan Saudi and the completion of Laffan Qatar’s admission as a shareholder therein were approved on 15/09/2026G.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.