Academy of Learning announces its early repayment of a current loan of 22 million Saudi Riyals
| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to the short-term loan for a period of 3 months amounting to 22 million Saudi riyals, which the company obtained in accordance with the credit line facility agreement compatible with the provisions of Islamic law signed with Riyad Bank, which was announced on the Saudi Stock Exchange website, Tadawul on 14/12/1444 corresponding to 02/07/2023, and with the company’s keenness to make the optimal use of the available cash to achieve the company’s financial efficiency and reduce financing costs, the Academy of Learning Company announces its early repayment of the short-term loan on 28/01/1445 corresponding to 15/08/2023.
The strength of the company's financial position and its distinguished cash flows have enhanced the company's ability to early repay the loan before the due date without any risk to the company's financial ability and without any impact on the company's firm approach towards suppliers and the preservation of future cash dividends to its valued shareholders. |
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