Abdullah Al Othaim Markets Co. — Capital/Financing Update 2017

Aug 22, 2017

Abdullah Alothaim Markets Company announces the completion of the sale process of this shopping mall by transferring the title deed and receiving the sale price.

4001 · 22/08/2017 16:05:24 · Announcement #47954 · View on Saudi Exchange

Abdullah Alothaim Markets Company announces the completion of the sale process of this shopping mall by transferring the title deed and receiving the sale price.

Abdullah Al Othaim Markets Co. announces the Sell of Shopping mall in Ha'el city. The area of the land on which the mall is located is 61,045.29 square meters (based on the actual survey and the adjustment of the land boundaries in the title deed). of value SAR 361.26 Millions as following:

1.details of the deal : Abdullah Alothaim Markets Company announces the completion of the sale process of this shopping mall by transferring the title deed and receiving the sale price.

2.the deal conditions : No Significant conditions

3.the deal parties : Abdullah Al Othaim markets Company and Abdullah Al Othaim for Investment and Real Estate Development (a related party to the Chairman of the Board Mr. Abdul Saleh Alothaim and a member of the Board Mr. Fahad Abdullah Al Othaim)

4.details of the main asset operations : Shopping mall for leasing

5.Deal reasons :Focus on the core business

6.Expecting impact on the company operations : Capital gains: SR 115.66 million (SR 112.77 million after zakat).

7.Declare of proceeds from asset selling : FiFinancing Company expansions and settlement of some bank loans..

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