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UNITED DEVELOPMENT ANNOUNCES RENEWALS OF A CREDIT FACILITY AGREEMENT AMOUNTING TO QR 728 MILLION

United Development UDCD -1.66% 1.48 -0.03

-The objective to be achieved form the transaction is general credit facilities

-The total value of the facility is 728 million Qatari riyals

-The method of payment and the sources of financing the operation is one payment after three years

-The renewal agreement was entered with Qatar National Bank

-There is no impact on the financial position of the company due to the completion of this transaction

-Advantage is to contribute in providing general credit facilities, and there are no negatives impact or risks

-There is no conflict of interest between relevant persons in the transaction

-There is also no change in ownership percentages before and after the completion of the transaction

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