Fitaihi announces an update on the temporary closing of retail stores of its two subsidiary Companies in KSA because of CONVID-19
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| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | In reference to the announcement of Fitaihi Holding Group, published on Tadawul website on April 27th, 2020, in regards to the kind Royal Order issued on April 26th, 2020, regarding the reopening of some economic and commercial activities during the permitted daily time starting from April 29th, 2020, to May 13th, 2020, in the wholesale and retail stores, and commercial centers (shopping malls), under specific health instructions and safety measures, and with reference to the new Government directives, issued on May 12th, 2020, to maintaining the partial lifting of the Kingdom-wide curfew (except for Makkah), and allowing the work continuation of certain economic activities, which include retail stores and shopping malls, from 09:00 a.m. to 05:00 p.m. through the whole period from May 14th to May 22nd, 2020, Fitaihi Holding Group announces the continuation of the partial opening of its retail showrooms for the duration of the above mentioned period. Comprehensive health and safety measures will continue to be applied for the whole duration of the above period. |
| Previous Announcement | Addendum Announcement from Fitaihi Holding Group in regards to the temporary closing of retail stores of its two subsidiary Companies (Fitaihi Retail Company) and (Luxury Goods Trading Company Ltd) in Saudi Arabia and a branch in Kuwait |
| Date of Previous Announcement on Tadawul’s Website | 2020-04-27 Corresponding to 1441-09-04 |
| Progress | Continuation of the partial opening of the retail showrooms of the Company, across Kingdom, from May 14th to May 22nd, 2020, from 10:00 a.m. to 04:00 p.m. Comprehensive health and safety measures will continue to be applied for the duration of the whole period.The Government directives further stipulate the return to a complete lockdown and a 24-hour curfew across the Kingdom from Saturday, May 23th to Wednesday, May 27th, 2020. |
| Event’s Expected Completion Date | It can’t be determined at this time |
| Reasons for Exceeding the Announced End Date | N/A |
| Expenses Related to the Event, Whether They Changed or Not and Justification | N/A |
| Impact of the Delay on the Company’s Financial Results | Currently, the Company can’t determine the financial impact resulting from these developments, and any material development will be announced in due course. |
