Addendum Announcement from Fitaihi Holding Group in regards the achievement of 125.7 million SAR exceptional capital gains from selling its total stake in Al-Jouf Agricultural Development Company (an associate Company)
|Introduction||Following the announcements of Fitaihi Holding Group, published on Tadawul website on March 2, 2021 in regards to the achievement of 125.7 million SAR exceptional capital gains from selling its total stake in Al-Jouf Agricultural Development Company (an associate Company)|
|Date of Posting the Previous Announcement of Development on Tadawul's Website||2021-03-02 Corresponding to 1442-07-18|
|URL of the Previous Announcement||Click Here|
|Change on the Development||"Worth mentioning: |
Total value of sale transaction: 200 million SAR (through the stock market and without any special conditions)
Book value of the sale transaction: 74.3 million SAR
Achieved profits from the sale transaction: 125.7 million SAR
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.
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.
1- Mr. Omar Riyadh Al-Humaidan (Board Member in Fitaihi Holding Group)
2- Dr. Mohammed Ahmed Fitaihi (Former Board Member at Fitaihi Holding Group)
3- Yasser Yehia Abdelhamid (Chief Executive Officer - Fitaihi Holding Group)
They represent Fitaihi Group at the Board of Al-Jouf Agriculture Company"
|Financial Impact on the change||Not applicable|
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