Enma Alrawabi Company announces the purchase of buildings for a value of (180,000.000) one hundred and eighty million Saudi riyals, excluding taxes.

Enma Alrawabi Company announces the purchase of buildings for a value of (180,000.000) one hundred and eighty million Saudi riyals, excluding taxes.

Element List

Explanation

Transaction Details

It has been agreed between Enma Al Rawabi Company and Al-Motaqadimah Schools Company to terminate the lease contract for the Hittin land in Riyadh (by mutual consent) that was signed on October 1, 2018, through buying out the buildings erected on the land for a value of (180,000,000) one hundred and eighty million Saudi riyals, excluding taxes.

Transaction Value

((180,000,000) One hundred and eighty million Saudi riyals, excluding taxes.

Transaction Terms

Termination of the lease contract for the Hittin land in Riyadh that was signed on October 1, 2018 (by mutual consent), by purchasing the buildings erected on the land for a value of (180,000,000) one hundred and eighty million Saudi riyals, excluding taxes.

Parties of the Transaction

Enma Al Rawabi Company (Buyer) Al-Motaqadimah Schools Company (Seller)

Transaction Funding Method

The transaction will be financed through a loan for the value of (170,000,000) one hundred and seventy million Saudi riyals through a mortgage on the Hittin land. The remaining payment of (10,000,000) ten million Saudi riyals will be paid from the company’s own resources.

Transaction Execution Date