Academy of Learning announces early repayment of current loan of SAR 22 million

Academy of Learning announces its early repayment of a current loan of SAR 22 million with the company’s keenness to make the optimal use of the available cash to achieve the company’s financial efficiency and reduce financing costs
The company stated on Tadawul that strength of the its financial position and its distinguished cash flows have enhanced the company’s ability to early repay the loan before the due date without any risk to the company’s financial ability and without any impact on the company’s firm approach towards suppliers and the preservation of future cash dividends to its valued shareholders.

This came with reference to the short-term loan for a period of 3 months amounting to SAR 22 million, which the company obtained in accordance with the credit line facility agreement compatible with the provisions of Islamic law signed with Riyad Bank, which was announced on the Saudi Stock Exchange website, Tadawul on 02/07/2023.