| Element List |
Explanation |
| Transaction Details |
Gozo Gayrimenkul Anonim Sirketi, a fully owned subsidiary of Saudi Cable Company entered into an agreement on March 14, 2022 to sell real estate in the form of residential villa. |
| Transaction Value |
40.9 Million Saudi Riyal |
| Transaction Terms |
Not applicable |
| Parties of the Transaction |
Gozo Gayrimenkul Anonim Sirketi & A non-related party |
| Transaction Funding Method |
Not applicable |
| Transaction Execution Date |
2022-03-14 Corresponding to 1443-08-11 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction |
Residential villa |
| Asset Book Value |
35.4 million Saudi Riyals |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction |
Not applicable |
| Transaction reasons |
To generate liquidity from assets of the group that are not directly linked to core operations |
| Expected Impact of the Transaction on the Company and Its Operations |
Generated a gain of 5.5 million Saudi Riyals |
| Details of Using The Proceeds of the Asset Sale |
Proceeds are primarily to be directed towards enhancing operational working capital |
| Related Parties |
Not available |
| Additional Information |
Not available |
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