Thursday, 28 March 2024

Al-Othaim Markets to sell land worth SR211.3 mln in Al-Madinah Al-Munawarh

FacebookTwitterWhatsAppTelegram

Abdullah Al-Othaim Markets Company announced selling a White land owned by the company located at Al-Madinah Al-Munawarh with a total area of (105,663.79) square meters at a price of SR (2,000) per square meter, with the sum of SR (211,327,580), and without any preferential terms. The deal will be paid within 90 days from the date of obtaining the approval of the General Assembly.

The company added on Tadawul that the book value of the asset subject of the deal according to the latest reviewed interim financial statements SR (100,701,885).

Expected Impact of the Transaction on the Company and Its Operations: Realizing capital gains amounting to SR amounting to SR (107,860,053) after zakat.

اقرأ المزيد

Excess cash from these proceeds, over the Company needs, will be paid as cash dividends to shareholders.

The company said that related parties are the Board Chairman Mr. Abdullah Saleh Al-Othaim and Board Member Mr. Abdulaziz Abdullah Al-Othaim.

Related



More