Mufeed Company Announces An Update On Its Competition For The Implementation Of The Main Events Project In The Diplomatic Quarter For 2025.

Introduction: Mufeed Company announces an update on its competition for the implementation of the main events project in the Diplomatic Quarter for 2025.

Previous Announcement: Mufeed Company announced on 28/09/2025 the award of a contract for the implementation of the main events project in the Diplomatic Quarter for 2025.

Date of Previous Announcement on Saudi Exchange’s Website: 2025-09-28 Corresponding to 1447-04-06

Hyperlink to the Previous Announcement on the Saudi Exchange Website: Click Here

Latest Developments Of The Announced Event: Mufeed Company received a letter from the Royal Commission for Riyadh City dated 05/04/2026 regarding the non-completion of the contracting procedures for the project. The reason is attributed to public interest and is not related to any shortcoming or breach on the part of the Company.

Reasons For The Delay on The Date of The Event Previously Announced: The company received a letter from the Royal Commission for Riyadh City on the afternoon of Sunday, April 5, 2026. On Monday, April 6, 2026, the company began studying the contents of the letter, reviewing it legally, and completing the necessary internal approval procedures. This development was disclosed immediately upon completion of these procedures.

The costs associated with the event, and if they have changed or not with indication of the reasons.: None

Delay consequences on the Company’s financial results: None

Additional Information: "The Company confirms its commitment to continuing the execution of its operations across its various business activities, in accordance with its approved strategic plans.

The Company also continues to pursue available market opportunities, leveraging its diversified service offerings and accumulated operational experience in the fields of events, media production, and marketing.

The Company further confirms its ongoing efforts to develop its business, enhance operational efficiency, and invest in operational assets, in a manner that supports its readiness and execution capabilities, while adhering to the disclosure of any material developments in due course in accordance with the relevant rules and regulations."