Fitaihi announces an update on the temporary closing of its retail stores because of (COVID-19)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | In reference to the announcement of Fitaihi Holding Group, published on Tadawul website on May 17th, 2020, regarding the work continuation of certain economic activities, which include retail stores and shopping malls during the permitted daily time up to May 22nd, 2020, (except for Makkah), Fitaihi Holding Group announces the continuation of the partial opening of its retail showrooms up to June 20th, 2020. Comprehensive health and safety measures will continue to be applied for the whole duration of the above period. The KSA concerned authorities aim to remove most of Coronavirus lockdown measures from June 21st, 2020, and begin a transition towards normalized conditions while maintaining the strict and widespread implementation of safety measures. |
| Previous Announcement | Fitaihi Holding Group announces an update on the temporary closing of the 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 | 2020-05-17 Corresponding to 1441-09-24 |
| Progress | The continuation of the partial opening of its retail showrooms up to June 20th, 2020. Comprehensive health and safety measures will continue to be applied for the whole duration of the above period. The KSA authorities aim to remove most of Coronavirus lockdown measures from 21 June 2020, and begin a transition towards normalized conditions which will permit all our branches to work normally, while maintaining the strict and widespread implementation of safety measures. |
| 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. |
