SISCO announces signing of an agreement to increase its shareholding in one of its subsidiaries

SISCO announces entering in to a Share Sale & Purchase agreement on 2 May 2016 to increase its shareholding in its subsidiary Kindasa Water Services Company (a Closed Joint Stock Company with a share capital of SAR 77.3 million) from 60% to 65% by buying additional 5% shares from other shareholders for SAR 15 million from Company,s cash

Completion of this deal is subject to fulfilling certain conditions, obtaining required approvals, and finishing all legal formalities. After completion of required conditions and legal formalities, the new shareholding of Kindasa Water Services Company shall be as under:
1.Saudi Industrial Services Company 65%
2.Mohammed Abdul Lateef Jameel Company 35%

And it is expected to increase SISCO,s Net Profit for year 2016 by approximately SAR 0.7 million.               




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