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Dr. Sulaiman Al Habib Medical Services Group Announces an update on the Group’s Announcement of signing off a lease contract with Madinah Al-Munawwarah Municipality in relation to a land investment in Al-Madinah Al-Munawwarah
| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement of Dr. Sulaiman Al Habib Medical Services Group Company (the “Group”) published on Tadawul website on 20/04/1443 corresponding to 25/11/2021 regarding signing off a lease contract with Al-Madinah Al-Munawwarah Municipality (the “Municipality”), under which, the Municipality leased to the Group the plot of land located on King Abdullah bin Abdulaziz Road after the second notary, in Muthainib neighborhood in Mitan region in Al-Madinah Al-Munawwara city, with a total area of (18,772.24) square meters for a period of (50) fifty years in order to invest it by constructing, operating and maintaining a hospital on the allocated land (the “Lease Contract”). The Group announces that on Thursday, 12/01/1446 corresponding to 18/07/2024, a mutual termination agreement has been signed between its subsidiary, Bawabat Al-Gharb for Healthcare Company (a wholly-owned subsidiary) and the Municipality to terminate the Lease Contract. This termination comes without any financial or contractual liability on either party towards the other. |
| Previous Announcement | Dr. Sulaiman Al Habib Medical Services Group announces signing off a lease contract with Madinah Al-Munawwarah Municipality in relation to a land investment in Al-Madinah Al-Munawwarah |
| Date of Previous Announcement on Saudi Exchange’s Website | 2021-11-25 Corresponding to 1443-04-20 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Group announces that on Thursday, 12/01/1446 corresponding to 18/07/2024, a mutual termination agreement has been signed between its subsidiary, Bawabat Al-Gharb for Healthcare Company (a wholly-owned subsidiary) and the Municipality to terminate the Lease Contract. This termination comes without any financial or contractual liability on either party towards the other. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no material costs associated with the event. |
| Delay consequences on the Company’s financial results | Not Applicable |
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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