| Element List |
Explanation |
| Introduction |
Alkathiri Holding Co. announces amended and renewal of bank facility agreement (Shariah-compliant) with Riyad Bank and Increase the value of facilities from SAR 3,000,000 to SAR 4,000,000 as follows: |
| Date of receiving Credit Facility |
2019-06-27 Corresponding to 1440-10-24 |
| Creditor |
Riyad Bank |
| Credit Facility value |
SAR4,000,000 million after the addition of SAR 1,000,000 to the facilities Value. |
| Credit Facility duration |
The facility period extends to 12-06-2021 and can be extended for further periods. |
| Guarantees provided for credit facility |
The facility is secured by a promissory note (equivalent to facility value) in favor of the bank. |
| Reason for Credit Facility |
The purpose of this facility is to finance the company’s working capital and to meet other business requirements. |
| Related Parties |
No related parties on this agreement. |
| Additional Information |
The total amount of facilities granted by Riyad Bank to the Company is SR 10,521,000 |
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