Addendum Announcement from Fitaihi Holding Group in regards to the achievement of 125.7 million SAR exceptional capital gains from selling its total stake in Al-Jouf Agricultural Development Company (an associate Company)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Following the announcements of Fitaihi Holding Group, published on the Tadawul website on March 2, 2021, in regards to the achievement of 125.7 million SAR exceptional capital gains from selling its total stake in Al-Jouf Agricultural Development Company (an associate Company) |
| Date of Posting the Previous Announcement of Development on Tadawul’s Website | 2021-03-02 Corresponding to 1442-07-18 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | Worth mentioning: The total value of sale transaction: 200 million SAR (through the stock market and without any special conditions). Book value of the sale transaction: 74.3 million SAR Achieved profits from the sale transaction: 125.7 million SAR. These sale proceeds will be used to further improve the return on equity in the Group, and to achieve its future directions in line with the aspirations of the Group’s shareholders. The positive financial impact of the above-mentioned sale will appear in the consolidated preliminary financial results of Fitaihi Holding Group for the first quarter of the Fiscal Year 2021. Related parties: 1- Mr. Omar Riyadh Al-Humaidan (Board Member at Fitaihi Holding Group) 2- Dr. Mohammed Ahmed Fitaihi (Former Board Member at Fitaihi Holding Group) 3- Mr. Yasser Yehia Abdelhamid (Chief Executive Officer – Fitaihi Holding Group) They represent Fitaihi Group at the Board of Directors of Al-Jouf Agricultural Development Company. |
| Financial Impact on the change | Not applicable |
