| Introduction | Within the strategic plan of Fitaihi Holding Group to maximize the shareholders’ rights through effective usage of the Company’s assets and resources, Fitaihi Holding Group announces that on Monday 12-07-2021 the Company has sold out an unutilized accommodation building in Riyadh for an amount of 5 million SAR. |
| Transaction Details | Selling an unutilized accommodation building in Riyadh. |
| Transaction Value | 5 million SAR |
| Transaction Terms | N/A |
| Parties of the Transaction | A non-related party |
| Transaction Funding Method | N/A |
| Transaction Execution Date | 2021-07-12 Corresponding to 1442-12-02 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | An unutilized accommodation building in Riyadh. |
| Asset Book Value | 1.3 million SAR |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | N/A |
| Transaction reasons | Applying the strategic plan of Fitaihi Holding Group to maximize the shareholders’ rights through effective usage of the Company’s assets and resources. |
| Expected Impact of the Transaction on the Company and Its Operations | The Company achieved 3.7 million SAR exceptional capital gains. The positive financial impact of the above-mentioned sale will appear in the consolidated preliminary financial results of Fitaihi Holding Group for the third quarter of the Fiscal Year 2021. |
| Details of Using The Proceeds of the Asset Sale | These sale proceeds will be used to further improve the return on equity in the Group and achieve its future directions in line with the aspirations of the Group’s shareholders. |
| Related Parties | There are no related parties involved in this transaction. |
