Retailing and Operation Division
Saudi Automotive Services Co. (SASCO) announces the latest updates of the options study of sell and leaseback some of its owned sites
26 May 2022
Retailing and Operation Division
ELEMENT LIST
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EXPLANATION
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Introduction
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SASCO refers to its announcement at Tadawul website on February 8, 2022, mention the latest updates regarding study of sell and leaseback some of its owned sites, as announced before by the signing of a binding memorandum of understanding with Al Jazira Capital Co.
In this regard, SASCO reports that on May 26, 2022, the contracts for the sale and leaseback process have been signed with Al Jazira Capital Co, as previously announced after establishment of the investment fund has been completed, and the final financial impact will be determined after completion of transfer the title deeds to favor of the fund's subsidiary, The final financial impact will be recorded on the financial statements in accordance with IFRS.
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Previous Announcement
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the latest updates of the options study of sell and leaseback some of its owned sites
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Date of Previous Announcement on Tadawul's Website
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2022-02-08 Corresponding to 1443-07-07
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Percentage of fulfilled achievement
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Not applicable
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Event's Expected Completion Date
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SASCO will announce any updates regarding this matter.
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Reasons for Exceeding the Announced End Date
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Not applicable
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The costs associated with the event, and if they have changed or not with indication of the reasons.
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Not applicable
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Impact of the Delay on the Company's Financial Results
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Not applicable
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