IssuerAnnouncementDetailsV2Portlet
Quara Finance Co. Announces Obtaining Sharia-complaint Credit Facilities from SHL Finance Co. (Related Party)
Element List | Explanation |
---|---|
Introduction | Quara Finance Co. announces obtaining Sharia-complaint Credit Facilities from SHL Finance Co. (Related Party) |
Date of obtaining the funding | 2025-06-17 Corresponding to 1446-12-21 |
Financing entity | SHL Finance Company |
Financing amount. | (100,000,000) Saudi Riyals. |
Financing duration. | 3 Years |
Guarantees offered for the financing | A Promissory Note for the full amount of the Facilities Assignment of receivables to cover 120% of the outstanding balance of the Facilities |
Financing objective | The purpose of this facility is to expand and increase the sales volume in line with the company's strategy and future vision. |
Related Parties | Common Shareholder - Mr. Yousef Abdullah Al-Shilash is a shareholder of SHL Finance Company and an indirect shareholder of Quara Finance Company through Al Mawared Al Oula. |
Additional Information | The Company confirms that the facility agreement is a continuous transaction that is carried out in the normal course of business and is in accordance with prevailing commercial conditions and without any preferential terms. |
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.