Saudi Cable Co. Announces Sale of residential villa in Turkey for an amount of 40.9 million Saudi Riyals

Saudi Cable Co. Announces Sale of residential villa in Turkey for an amount of 40.9 million Saudi Riyals

|Element List||Explanation|

|Transaction Details||Gozo Gayrimenkul Anonim Sirketi, a fully owned subsidiary of Saudi Cable Company entered into an agreement on March 14, 2022 to sell real estate in the form of residential villa.|

|Transaction Value||40.9 Million Saudi Riyal|

|Transaction Terms||Not applicable|

|Parties of the Transaction||Gozo Gayrimenkul Anonim Sirketi & A non-related party|

|Transaction Funding Method||Not applicable|

|Transaction Execution Date||2022-03-14 Corresponding to 1443-08-11|

|Description of the Business of the Asset forming the Subject Matter of the Transaction||Residential villa|

|Asset Book Value||35.4 million Saudi Riyals|

|Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction||Not applicable|

|Transaction reasons||To generate liquidity from assets of the group that are not directly linked to core operations|

|Expected Impact of the Transaction on the Company and Its Operations||Generated a gain of 5.5 million Saudi Riyals|

|Details of Using The Proceeds of the Asset Sale||Proceeds are primarily to be directed towards enhancing operational working capital|

|Related Parties||Not available|

|Additional Information||Not available|