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Almujtama Alraida Medical Co. Announces the signing of a lease contract with Mr. Omar Yousef Khojah
| Element List | Explanation |
|---|---|
| Introduction | Almujtama Aleaida Medical Company announces the issuance of the Board of Directors’ decision approving the company to rent the building owned by Mr. Omar Yousef Khojah (a related party) to open a pharmacy located in the city of Jeddah, Al Marwa District, at a value of 420,000 riyals annually, excluding value added tax (15%) for a period of 10 Years based on the General Assembly’s authorization on June 18, 2023, to the Board of Directors of the authority to license contracts with related parties, which stated: “Approval to delegate to the Board of Directors the powers of the Ordinary General Assembly with the license contained in the first and second paragraphs of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval the Ordinary General Assembly or until the end of the session of the authorized Council, whichever comes first, in accordance with the conditions contained in the regulatory controls and procedures issued in implementation of the Companies Law". The contract will be presented to the nearest general assembly to approve the procedures taken. |
| Date of Announcement of the Award | 2024-05-05 Corresponding to 1445-10-26 |
| Contract Subject Matter | Signing a lease contract with Mr. Omar Yousef Khojah |
| The Entity with Which the Contract was Signed | Mr. Omar Yousef Khojah |
| Date of Signing the Contract | 2024-05-05 Corresponding to 1445-10-26 |
| Contract Value | The rental value is 420,000 riyals annually, excluding value-added tax The total value of the contract for 10 years is 4,200,000 riyals, excluding value added tax |
| Contract Details | Renting a building in the Al-Marwa neighborhood in Jeddah to open a pharmacy |
| Contract Duration | 10 years |
| Financial Impact and the Relevant Period | It is expected that the financial impact of this contract will be reflected starting in the second half of the fiscal year 2024. |
| Related Parties | Mr. Omar Yousef Khojah |
| Additional Information | The contract will be presented to the nearest general assembly to approve the procedures taken. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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