| Element List |
Explanation |
| Introduction |
Further to what Saudi Arabian Amiantit Company announced on Tadawul platform on 05-08-1445H corresponding to 15-02-2024G, the Company would like to announce that on Thursday evening 11-09-1445H corresponding to 21-03-2024G, all the obligations owed by the Company to the Saudi National Bank amounting to SAR 313 million were settled at a 50% discount, by paying SAR 156.5 million from the proceeds of the capital increase and exempting the Company from all its remaining obligations to the Saudi National Bank. |
| Previous Announcement |
Signing a settlement agreement for the entire facilities due from SNB amounting to SAR 313 million at a 50% discount. |
| Date of Previous Announcement on Saudi Exchange’s Website |
2024-02-15 Corresponding to 1445-08-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
Completion of the settlement of all outstanding obligations with SNB amounting to SAR 313 million at a 50% discount and an accounting profit of SAR 156.5 million. |
| Reasons For The Delay on The Date of The Event Previously Announced |
Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
Not applicable |
| Delay consequences on the Company’s financial results |
Not applicable |
| Additional Information |
The Company is pleased to announce that the financial impact of this transaction is to record an accounting profit of SAR 156.5 million, which will not result in any cash in-flow within the Company, and the financial impact will be reflected in the results of the financial statements for the first quarter of 2024. |
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