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Al Babtain Power and Telecommunication Company Announces to Sale empty lands, located in Al Sully Area by value of 50,820,000 SAR (exclusive of real estate transaction tax)
2320
ALBABTAIN
1.86
%
1445/09/21 31/03/2024 16:23:32
| Element List | Explanation |
|---|---|
| Introduction | Al Babtain power and Telecommunication Announces Sale empty land, located in Al Sully Area southern of AL Jazeera Area – Eastern Ring Road |
| Transaction Details | The empty land about 2 contracts didn’t use by company with total area 30,800-meter square. |
| Transaction Value | SR 50,820,000 |
| Transaction Terms | The Buyer will pay the total amount as one transaction when transfer the deed at Notary |
| Parties of the Transaction | 1- AL Babtain power and telecommunication company and 2- Mohammed Zeeb Al Jarallah AL Ghuraimil |
| Transaction Funding Method | Not applicable |
| Transaction Execution Date | 2024-03-31 Corresponding to 1445-09-21 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | The land was used for the company’s factories |
| Asset Book Value | SR 3,080,000 |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable |
| Transaction reasons | Due to transfer the company factories to industrial Areas ( Moodon), the land didn’t use for company core business. |
| Expected Impact of the Transaction on the Company and Its Operations | Increase the other income which will appear in the financial statement of consolidate period by amount SR 47,740,000 |
| Details of Using The Proceeds of the Asset Sale | The proceeds will be used to fund current company operations. |
| Related Parties | There are no related parties in the Transaction |
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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Last Price 57.45
Net Change 1.05 (+1.86%)
Value Traded (Sar) 11,453,487.85
Volume Traded 199,825
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