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Leejam Sports Company (Fitness Time) announces the Board of Directors' decision to establish a subsidiary company specialized in investments

LEEJAM SPORTS 1830 5.89% 212.00 11.80
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Announcement Detail Leejam Sports Company (Fitness Time) announces the resolution of its board of directors on 16th of June 2022 which approved the establishment of a 100% owned subsidiary company (the subsidiary) based in Riyadh.

The subsidiary company will take advantage of investment opportunities by establishing joint ventures and acquiring stakes in existing entities to achieve Leejam Sports Company's goals and strategy, after fulfilling all legal requirements and obtaining all necessary approvals and licenses from the relevant authorities.

Currently, there is no financial impact of this resolution, but it is expected that the activities of the subsidiary will positively affect the results of Leejam Sports Company.

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