Fitaihi Holding Group announces the achievement of 125.7 million SAR exceptional capital gains from selling its total stake in Al-Jouf Agricultural Development Company (an associate Company)
|Announcement Detail||Within the strategic plan of Fitaihi Holding Group to increase profitability and maximize shareholders' rights, Fitaihi Holding Group announces the completion, until the end of the trading day of Tuesday, March 2, 2021, of selling its total stake (9%) in the share capital of Al-Jouf Agricultural Development Company, achieving (exceptional) capital gains of 125.7 million SAR, according to the resolution of the Board of Directors of the Group to sell its total stake owned in the share capital of its associate, Al-Jouf Agricultural Development Company. |
The positive financial impact of the above-mentioned sale will appear in the consolidated preliminary financial results of Fitaihi Holding Group for the first quarter of the fiscal Year 2021.
These sale proceeds will be used to further improve the the return on equity in the Group, and to achieve its future directions in line with the aspirations of the Group's shareholders.
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