Jarir Marketing Co. Announces Contract Sign Off with Jarir Real Estate Company

Element ListExplanation
Introduction Jarir Marketing Co. Announces Contract Sign Off with Jarir Real Estate Company(Related Party)
Date of Announcement of the Award 2021-10-25 Corresponding to 1443-03-19
Contract Subject Matter Land sale contract
Date of Signing the Contract 2021-10-25 Corresponding to 1443-03-19
Contract Value 97,925,698 Riyals
Contract Details Jarir Marketing Company signed a contract to sell a piece of land owned by it, located in Riyadh, Al-Yasmeen District, with an area of (10,542.50) m2
Contract Duration -
Financial Impact and the Relevant Period Profit results from the sale amount to (38,492,355) riyals.

The financial impact of

the contract will appear during the fourth quarter of 2021

Related Parties Jarir Real Estate Company “the buyer” is 100% owned indirectly by some members of the Board of Directors of Jarir Marketing Company, and they are:

1. Mr. Mohamad bin Abdul Rahman Al-Agil.

2. Mr. Abdullah bin Abdul Rahman Al-Agil.

3. Mr. / Abdul Karim bin Abdul Rahman Al-gil.

4. Mr. Nasser bin Abdul Rahman Al-Agil.

And the Chairman of the Audit Committee, Mr. Abdul Salam bin Abdul Rahman Al-Agil.

Additional Information The company received an offer from the buyer (the related party) to purchase a piece of land within the company's assets, which was intended for the development of a project that was canceled.

After considers the offer in light of the valuations conducted for the land by three accredited valuers, the company considered that accepting this offer is in the best interest of the company.

The company confirms that the contract did not include any preferential terms.

In addition, none of the members of the Board or Audit committee who has an interest participated in the discussions or the approval of the contract.

And that this contract will be ratified during the next General Assembly meeting.

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.

Company Profile


Company Profile


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