Fitaihi Holding Group Announces the Sale of Goods by its Subsidiary Fitaihi Retail Company to the Associate Company, the International Medical Center (a Related Party)

By Investor Relations Uncategorized

ELEMENT LIST	EXPLANATION
Announcement Detail	Fitaihi Holding Group announces that its subsidiary Fitaihi Retail Company has completed on Tuesday 08/03/2022 the sale of goods to the associate company, the International Medical Center (a related party). Details of the Transaction: Selling goods (gold) to the associate, the International Medical Center, without preferential terms, and with the same terms and conditions that the Company follows with all dealers and contractors. The sold merchandise is among the goods that Fitaihi Retail Company sells. Transaction Value: The total value of the goods sale transaction is SAR 2,720,395, paid in cash as per the Sales Policy of Fitaihi Retail Company. Duration of the Transaction: The sale transaction was completed, the goods were delivered, and the value of the transaction was received in cash. Financial Impact & Reflected Period: The financial impact of this transaction will appear on the financial results of the Company for the first quarter ending on 31-03-2022. Related Parties: 1- SHK. Ahmed Hassan Fitaihi (Non-Executive) – Chairman of Fitaihi Holding Group – an indirect interest. 2- Mr. Yasser Yehia Abdulhamid (CEO of Fitaihi Holding Group, and a Board Member of the IMC). Reason for Selling: The sale of goods is part of the essential business activity of Fitaihi Retail Group. Use of Proceeds: Operational financing. Additional Information: 1- Fitaihi Holding Group owns 100% of the subsidiary Fitaihi Retail Company that operates in the retail and wholesale of Gold, jewelry, and luxury items. 2- Fitaihi Holding Group owns 19.25% of the Capital of the International Medical Center that operates in the healthcare sector in the KSA and owns a medical center and a polyclinic medical complex with a current total capacity of 300 medical beds. 3- Dr. Walid Ahmed Hassan Fitaihi is the chairman of the International Medical Center. 4- Mr. Yasser Yehia Abdulhamid (CEO of Fitaihi Group) representsFitaihi Holding Group in the BOD of the International Medical Center. 5- This transaction will be presented for approval to the General Meeting of the Group (after obtaining the necessary regulatory approvals).

ELEMENT LIST

EXPLANATION

Announcement Detail

Fitaihi Holding Group announces that its subsidiary Fitaihi Retail Company has completed on Tuesday 08/03/2022 the sale of goods to the associate company, the International Medical Center (a related party).
Details of the Transaction: Selling goods (gold) to the associate, the International Medical Center, without preferential terms, and with the same terms and conditions that the Company follows with all dealers and contractors. The sold merchandise is among the goods that Fitaihi Retail Company sells.
Transaction Value: The total value of the goods sale transaction is SAR 2,720,395, paid in cash as per the Sales Policy of Fitaihi Retail Company.
Duration of the Transaction: The sale transaction was completed, the goods were delivered, and the value of the transaction was received in cash.
Financial Impact & Reflected Period: The financial impact of this transaction will appear on the financial results of the Company for the first quarter ending on 31-03-2022.

Related Parties:
1- SHK. Ahmed Hassan Fitaihi (Non-Executive) – Chairman of Fitaihi Holding Group – an indirect interest.
2- Mr. Yasser Yehia Abdulhamid (CEO of Fitaihi Holding Group, and a Board Member of the IMC).
Reason for Selling: The sale of goods is part of the essential business activity of Fitaihi Retail Group.
Use of Proceeds: Operational financing.

Additional Information:
1- Fitaihi Holding Group owns 100% of the subsidiary Fitaihi Retail Company that operates in the retail and wholesale of Gold, jewelry, and luxury items.
2- Fitaihi Holding Group owns 19.25% of the Capital of the International Medical Center that operates in the healthcare sector in the KSA and owns a medical center and a polyclinic medical complex with a current total capacity of 300 medical beds.
3- Dr. Walid Ahmed Hassan Fitaihi is the chairman of the International Medical Center.
4- Mr. Yasser Yehia Abdulhamid (CEO of Fitaihi Group) representsFitaihi Holding Group in the BOD of the International Medical Center.
5- This transaction will be presented for approval to the General Meeting of the Group (after obtaining the necessary regulatory approvals).

8001166661

sh@fitaihi.com.sa

Fitaihi Holding Group Announces the Sale of Goods by its Subsidiary Fitaihi Retail Company to the Associate Company, the International Medical Center (a Related Party)

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