“GACO” receives 1.8 million riyals after completing the procedures for emptying the land deed in favor of Fakieh poultry

Al Gassim Investment Holding Co. announced that it received 1.8 million riyals from Fakieh poultry Farms Company after completing all legal procedures related to transferring ownership of the land, which included completing the implementation procedures and emptying the deed in the name of Fakieh Poultry Farms Company

The details of the case, according to the company’s statement on Tadawul, are that it authorized the former board member (Abdullah Al-Mahous) to complete the procedures for issuing deeds for agricultural ministerial decisions, which are the remaining deeds to complete the contract for the sale of the company’s agricultural project in the Al-Jawf region with Fakieh Poultry Farms Company, provided that “Al Gassim Investment Holding Co.” receives the remaining dues, which amount to 1.8 million riyals – in exchange for extracting and emptying the deed subject to the lawsuit).

The former board member extracted the deed and emptied the land in his personal name, and then refused to empty the property to Fakieh Farms Company despite being authorized to do so by the board of directors. Before a judicial decision is issued to transfer ownership of the land to Fakieh Company.