Al-Othaim Markets GA agrees to sell 13.65 million shares, its stake in Abdullah Al-Othaim Investment for SR846.5 mln

Abdullah Al-Othaim Markets Company announced on Wednesday the results of the Ordinary General Assembly meeting (the first meeting) after completing the quorum, where the attendance rate was 66.83%.

The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

• Approval of the transactions and contracts that will be concluded between the company and Al Othaim Holding Company, where each of (the Chairman of the Board of Directors Mr. Abdullah Saleh Ali Al Othaim, and the Board of Directors Member Mr. Abdulaziz Abdullah Saleh Al Othaim) they have an indirect interest, the transaction is selling the shares owned by Abdullah Al-Othaim Markets Company in the capital of Abdullah Al-Othaim Investment Company amounting to (13,653,850) shares with a total value of SR (846,538,700), without any preferential conditions.
• Approval of the transactions and contracts that will be concluded between the company and Abdullah Al-Othaim Investment Company, where each of (the Chairman of the Board of Directors Mr. Abdullah Saleh Ali Al Othaim, and the Board of Directors Member Mr. Abdulaziz Abdullah Saleh Al Othaim) they have an indirect interest, the transaction is selling a land owned by Abdullah Al-Othaim Markets Company in Madinah Al-Munwarah, with an area of (105,663.79) square meters with a total value of SR (211,327,580), without any preferential conditions.