The Board of Directors of the Saudi Research and Media Group (SRMG) approve a plan to initiate the restructuring of several of its non-operating companies.

Element List	Explanation
Announcement Detail	Saudi Research and Media Group (SRMG) announces that its Board of Directors has approved on 7 May 2024 a plan to initiate the legal restructuring of several of its non-operating and wholly owned subsidiaries, as detailed in the attached document. This announcement is part of SRMG’s ongoing efforts to streamline operations and legal structures. The restructuring process will include voluntary liquidation, striking off/deregistration or conversion to branches, adhering to the applicable laws and regulations within the relevant jurisdictions of each subsidiary and following completion of the required procedures. It is important to note that upon completion of the restructuring process, there will be no material financial impact on the consolidated financial statements of SRMG in the upcoming period. Additionally, this restructuring will not affect SRMG’s media platforms or brands.
Attached Documents