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Leejam Sports Company (Fitness Time) Announces the Establishment of a Company Specialized in Padel Sports in the Kingdom of Saudi Arabia, in Partnership with World Wide Padel
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| Announcement Detail | Leejam Sports Company (The Company) - The leading company in the sports field in Saudi Arabia and the Middle East region, owner and operator of the Fitness Time brands chain - is pleased to announce the completion of the establishment of a company in the name of “Padel X Sports Company (Limited Liability Company)” (the new company), with a capital of fifty thousand SAR, in partnership with World Wide Padel, for the purpose of investing in Padel sports in the Kingdom of Saudi Arabia by building and operating Padel courts. The incorporation of the new company was completed on 23 July 2023. Leejam Sports Company, through its investment subsidiary, owns 51% of the shares of Padel X while World Wide Padel, through its Saudi subsidiary (Padelbolaget Sports Company), owns a 49% stake. The new company will start its operations from the date of incorporation, and the financial impact will appear starting from the third quarter of 2023. |
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 127.6
Net Change 3.0 (+2.41%)
Value Traded (Sar) 4,106,611.4
Volume Traded 32,577
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