Arriyadh Development Co. — Capital/Financing Update 2022

Mar 31, 2022

Arriyadh Development Company announces the sale of parts of the lands Tanal

4150 · 31/03/2022 08:27:05 · Announcement #67453 · View on Saudi Exchange

Arriyadh Development Company announces the sale of parts of the lands Tanal

Element List

Explanation

Announcement Detail

Arriyadh Development Company announces that it received a letter on 27/8/1443 AH corresponding to 3/30/2022 AD from Tanal Investment and Real Estate Development Company - an associate company - stating that parts of the Tanal lands have been sold with a total area of ​​(151,468 m2) with a total value of ( 249,922,200 riyals) in addition to the buyer bearing the tax on real estate transactions, and emptying procedures have been started.

Arriyadh Development Company’s share of those sales is 69.38%, and the company will achieve total profits from these sales estimated at about (81 million riyals), its financial impact appears during the first and second quarters of 2022 AD.

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.